CNI: Bring policies to rehabilitate industriesConfederation of Nepalese Industries (CNI) has asked the government to put in place policies to rehabilitate industries hit by the Gorkha earthquake and India’s trade embargo.
Confederation of Nepalese Industries (CNI) has asked the government to put in place policies to rehabilitate industries hit by the Gorkha earthquake and India’s trade embargo.
In a pre-budget discussion at the Finance Ministry on Sunday, the CNI also urged the government to implement the Agriculture Promotion Fund to ease bank lending in the sector.
The CNI reiterated its demand for setting up a Business Recovery Centre in partnership between the government and the private sector to rehabilitate quake-hit small- and medium-scale enterprises.
Submitting its list of demand, the private sector body sought one-third of budget allocation in the infrastructure sector and creation of environment for expenditure of such budget allocation.
The CNI demanded early establishment of an Infrastructure Bank to fund infrastructure projects and issuance of tax-free bonds to attract funding from Non-Resident Nepalis in the sector.
During the interaction, CNI representatives suggested various issues to be included in the budget for the next fiscal year.
CNI President Hari Bhakta Sharma asked the government to priorities the production sector rather than import-based businesses. Nepal is an import-based country, with domestic goods losing ground to imported ones.
Presenting a paper, CNI Vice-president Anuj Agrawal urged the government to impose only one percent customs duty on imports of equipment and machineries used in the agricultural production.
“Effective implementation of the agriculture promotion fund, introduction of paid internship in production business and focus on e-governance should get priority,” he said.
Industrialist Shiva Ratan Sharada underscored the need for the classification of land for boosting the agriculture sector.
“The government has to separate the land suitable for agriculture and manufacturing sectors for effective utilisation of land amid rampant plotting,” he said.
Sharada demanded the government increase the gap in the customs duties on the import of raw materials and finished agricultural products. He said a minimum gap has induced traders to import finished products rather producing here by importing raw materials.