India VS Pakistan
Kathmandu, November 28: In a policy-level talks program organized by the Federation of Nepali Cottage and Small Industries, stakeholders called for the declaration of micro, cottage, and small industries as a priority sector, akin to agriculture, aiming to foster a self-reliant economy and mitigate trade deficits.
During the event, Federation President Umesh Prasad Singh emphasized the potential for building a prosperous economy by promoting micro, cottage, and small industries through the Industrial Enterprises Act. He underscored the necessity of developing a concrete action plan, implementation of import substitution, export promotion, employment creation, and production increase for economic prosperity and overall development.
Singh urged support for the establishment of a ‘Virtual Market Place,’ commercially operated by the private sector, as a means to bolster the industry. He also advocated for discontinuing the practice of imposing a 300 percent fine when industries fail to renew.
Outgoing Federation President Shyam Prasad Giri stressed the need for coherence among the acts, rules, and work procedures of the federation, provinces, and local levels. Giri urged for streamlined coordination to optimize the effectiveness of policies.
Bahadur Singh Lama, Minister for Economic Affairs and Planning of Bagmati Province Government, highlighted the importance of expanding small, cottage, and micro enterprises into large-scale industries. He expressed concern that these industries were more focused on importing than on production, hindering their growth.
Minister Lama also announced the province government’s positive stance on establishing an international-standard exhibition center to provide protection and support for small industries.
Ram Krishna Chitrakar, Minister for Industry in Bagmati Province, emphasized the need to revise acts related to federalism implementation. He revealed that the Provincial Industrial Policy was under formulation, despite not being finalized yet.
Working papers presented by former Finance Secretary Shishir Dhungana and former Industry Secretary Yam Kumari Khatiwada outlined key subjects for incorporation and amendment in Bagmati Province’s Industrial Enterprises Act.
Various officials, including Bagmati Province’s Minister for Tourism Pukar Maharjan, Minister for Forests Masina Khadka, joint secretaries at the Ministry of Industry, Commerce, and Supplies, and representatives from the Department of Industries, engaged in discussions on issues related to cottage, small, and micro enterprises.
The jointly organized program by the Federation and USAID Trade and Competitiveness aimed to foster dialogue and collaboration for the growth and sustainability of Nepal’s small-scale industries.
