The Ministry of Industry (MoI) is giving finishing touches to the final draft which will be soon forwarded to the President´s Office for endorsement. The cabinet has already agreed in principle to issue the act through ordinance.
A delegation from the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) led by its vice president Pashupati Murarka met Industry Secretary Krishna Gyawali on Wednesday and made the request. [break]
“We have asked the government to be flexible on CSR provision as all business firms are not in a position to set aside money for CSR,” Dinesh Shrestha, standing committee member of FNCCI, told Republica after the meeting.
The delegation also asked the government to include a provision on sick industries in the upcoming act.
“The government should extend support to the sick industries that suffer due to external reasons,” added Shrestha.
The government has incorporated slew of incentives, including waiver or reduction of income tax for enterprises based in outlying areas, in the draft of the industrial act in a bid to rejuvenate the industrial sector. The draft also envisages providing tax incentives to eco-friendly industries and industrial units generating higher amount of jobs.
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