Vice Chairman of National Planning Commission (NPC) Govinda Raj Pokhrel said that they would come out with a relief package for affected businesses and enterprises very soon. "We may not announce grant assistance but we have started discussions on different programs to provide relief to businesses," Pokhrel said, adding, "We are mulling over different programs like providing tax discounts, rescheduling of bank loans and issuing loans at subsidized interest rates."The draft of Rehabilitation and Reconstruction Plan prepared by NPC states that the government would do the needful for restoring businesses by supporting them in infrastructure development. The document, however, does include detailed program.
Human settlements and business centers in many districts have turned into ruins. Private sector has been asking the government to introduce programs for restoring their businesses.
"Many enterprises, small or even medium scale, are not in tax net. We will bring an insurance package for them with subsidized premium so that they will be encouraged to come into tax regime," Pokhrel said, adding people renting out their homes can insure their buildings so that their income level won't be affected in case of disasters.
Pokhrel also said that they would stimulate demand in the market through reconstruction so that small enterprises can be revived easily. A committee led by Prime Minister Sushil Koirala for reconstruction is scheduled to meet on Tuesday. In the meeting, private sector representatives will float their ideas for restoring businesses damaged by the earthquake.
Pashupati Murarka, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said they were preparing suggestions to the government which will be tabled in on Tuesday's meeting.
Confederation of Nepalese Industries (CNI), however, has already floated its business recovery plan for public discussion. Their plan includes setting up of a business recovery center which will be operated in coordination with the government. CNI will also seek donations from donors and raise fund if needed. CNI Vice President Hari Bhakta Sharma said that the center would assess the damage on its own and work for restoring the businesses by building necessary infrastructures.
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