In association with
Logo Logo Logo

Prioritize small industries in budget, suggest experts

KATHMANDU: Speakers at a programme have suggested the government that it prioritized the small and cottage industries and production of exportable goods in the upcoming budget.
During an interaction organized by Nepal Rastra Bank in order to collect suggestions for the upcoming budget, the speakers underscored the need to create investment friendly atmosphere for the domestic industries. They expressed worry over government for not creating jobs within the country.
Chairman of the Association of Nepal Readymade Garments Industries, Chandi Prasad Aryal, shared the statistics that in 2001, Nepal used to export the garments of Rs 39 billion annually, which is now reduced to Rs 5 billion. It was because the government ignored the small industries, he accused. “Environment should be created to produce the raw materials for the production of exportable goods; loan need to be provided in a reasonable interest rate and both the technology and capital need to be increased,” he underscored.
Chairman of Nepal Pashmina Industries’ Association, Durga Bikram Thapa, also argued that the State failed to give proper attention to the production of exportable goods.
Chairman of Small and Cottage Industries’ Association, Shyam Prasad Giri, warned that if the government did not pay attention to cottage industries on time, it would be mere chimera to think of high economic growth rate. He suggested that youths could be attracted towards online trade.
Past President of Confederation of Nepalese Industries, Haribhakta Sharma, also warned that if the small and mid-scale industries were not provided conducive atmosphere for investment, operation and earning, it was not possible for the country to make expected economic achievement.
NRB Governor Dr Chiranjivi Nepal said the genuine suggestions could be incorporated in the upcoming budget. The upcoming budget bears significance because it was being made as the first budget of 15th national periodic plan. He however said the country has witnessed incremental economic growth for the last three years.

Comment here !
Related News

By TOM KRISHER, DETROIT (AP) — Home security camera footage shows that the owner of a Tesla got into the driver’s

LAUSANNE, Switzerland (AP) — Vaccine developers Pfizer and BioNTech will donate doses to inoculate athletes and officials preparing for the

By FRANK JORDANS, BERLIN (AP) — Recent pledges by the United States and other nations could help cap global warming at

By JONATHAN LEMIRE, JOSH BOAK and ZEKE MILLER, WASHINGTON (AP) — Joe Biden’s presidency is entering a new and more