Minister for Industry Mahendra Prasad Yadav on Wednesday said that the long-awaited new industrial policy was being reassessed by the cabinet and would soon be endorsed by the ministerial meeting. He said that the new industrial policy would bring new laws that would help the country to attract foreign direct investment and boost micro, cottage and small industries and big industries as a whole to create a conducive environment for investment.
Addressing a programme organized by the Department of Cottage and Small Industries and the Cottage and Small Industries Development Board on the effectiveness of plan and policy and evaluation workshop in the capital, Yadav said, "Once we implement the new industrial policy, many hurdles related to the development of micro, small and cottage industries will be resolved." Lata Pyakurel, president of the Federation of Nepal Cottage and Small Industries (FNCSI), said that most of the small industries had shut down or become sick due to lack of an appropriate policy.
"The existing policy has the same provision for small investors with an investment of Rs. 50,000 and big industries having millions in investment," she said, adding that small borrowers had to pay a high rate of interest to financial institutions compared to big investors. The FNCSI has been demanding a separate policy for micro, cottage and small industries. Bikash Ratna Dhakhwa, president of the Federation of Nepal Handicraft Associations, urged the government to introduce need-based income generating programmes to increase the income of lower-income people. "Such programmes implemented by the government should be strictly monitored and evaluated," he said.
He also urged carrying out a study in the districts to discover if there was any possibility of expanding handicraft production. "We are always open to working under public-private partnership to develop the handicraft sector," said Dhakhwa. There are about one million people in remote and urban areas who are directly employed in the handicraft sector. A total of 42 handicraft items are being exported to 80 countries worldwide.
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Thursday, September 17, 2009
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