Published On: May 22, 2018 04:00 AM NPT By: Republica | @RepublicaNepal
KATHMANDU, May 22: The government has said that it would establish an industrial estate each in all seven provinces.
Presenting the government's policy and programs for Fiscal Year 2018/19 in the parliament on Monday, President Bidya Bhandari said that the government would also open one industrial village each in all 753 local units across the country.
The idea, which was included in the manifesto of the then Left Alliance (now Communist Party of Nepal) is set to increase employment opportunities in the county and also curb brain drain of youth to foreign nations in search of employment. Moreover, establishing such industries will also strengthen the manufacturing sector of the county by making Nepal self-reliant and also decrease imports while increasing exports.
The policy and programs document states that the government will prioritize industrial sector to increase exports and lessen dependency on other countries even for everyday goods. “The government will also reopen old and closed industries through public- private partnership. Likewise, the government will encourage private sector to further increase their investments by creating investment-friendly environment,” the document states.
Speaking during the a joint session of the National Assembly and the House of Representatives, President Bhandari said that the government will ensure favorable labor relations and guarantee safety and security of investments.
“The government shall establish cooperatives as an integral part of the national economy and will increase its involvement in job creation, increasing productivity and distribution of the products,” said Bhandari.
The policies and programs document states that needful arrangement will be made to increase production of sugar and pharmaceutical products as well as leather footwear and accessories within the country. “The government aims to establish cement industries as an export-based industry and conduct exploration of iron ore deposits so as to mine and process iron ores in the country itself,” the document read.
As per the policies and programs of the government, jute, carpet, handicraft, thread and readymade apparels industries will also receive special emphasis in the new fiscal year.
The government is set to enhance the quality of goods produced in the country and also discourage the import of goods that affect human health and hamper local economy. It has also stated that locally produced goods will be prioritized over similar products imported from other countries.
Emphasizing on the importance of entrepreneurship for the development of national economy, women empowerment and skill-based trainings for youth will be organized throughout the country, the policies and programs document states. It further stated that the government will take strict action against individuals and groups promoting carteling and syndicates. “The government will ensure that there is a healthy and fair competition in the market and organizations monitoring against irregularities in the market will be systematically mobilized to inspect for monopolies in the market,” President Bhandari said in the parliament.
The government further aims to expand the capacity to store petroleum products.
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