Finance Minister Janardan Sharma has said policies would be simplified to establish manufacturing-focused industries.
He vowed to simplify to establish manufacturing-focused industries while receiving a memorandum from the Confederation of Nepalese Industries (CNI) on Wednesday. The FNI submitted a memorandum to the Finance Minister, demanding the arrangement of loans up to Rs 50 million with project collateral to the existing small and mid-scale industries so that employment and self-entrepreneurship would be increased and the national economy made dynamic.
The CNI expressed the belief that the ‘Make In Nepal’ campaign it launched to the transformation of the productive economy would be propped up by the government provisions as mentioned in the recent whitepaper on the national economy and common minimum programs. The CNI has suggested policy reforms in various 34 sectors.
For it to happen, a committee has to be formed, comprising the representatives of the Finance Ministry, Ministry of Industry, Ministry of Law, National Planning Commission, and the CNI. For the promotion of domestic products, the imports of similar products should be discouraged, the CNI has underscored. On the occasion, Finance Minister Sharma appreciated the ‘Make In Nepal’ launched by the CNI.
“I’m ready to work for reforms that encourage private sectors and increase revenue. From a labor point of view, Nepal is rich at present. We need to mobilize youths,” he added.
CNI Chair Bishnu Kumar Agrawal viewed that in general the monetary policy was good but the confusion created with the cancellation of CCD radio should be wiped out on time. Also present were the vice-chairs of the CNI in the meeting with Minister Sharma.
