KATHMANDU, Jan 25: Minister for Labour, Employment and Social Security Sharat Singh Bhandari has said the government is preparing to announce the Internal Migration Decade from 2081 to 2091 BS.

Speaking at a programme organized to launch the Nabil Skilled Overseas Entrepreneurship Loan programme in the capital on Thursday, Minister Bhandari shared that the government is preparing to observe the National Migration Decade beginning next year.

Minister Bhandari said that a task force is currently working on the national migration policy.  "We are responsible for preventing the plight of the domestic workforce through the promotion of job creations internally. Presently, the development of an internal employment information system is underway towards that end," he said.  

Bhandari said that although foreign employment has been a great support for the country's gross domestic product, the exodus of the workforce has caused serious issues in the domestic labor market. Youths are forced to go outside because of a lack of job opportunities at home.

He also acknowledged that the government has not been able to create a favorable atmosphere for foreign migrant returnees to utilize their skills and capital back home.  

Also speaking on the occasion, Secretary at the Ministry of Labour, Employment and Social Security, Kewal Prasad Bhandari said climate change and poverty are the factors promoting domestic and foreign migration. “There is a big circle of domestic migration. The statistics show that rural-urban migration is increasing,” he said.

Bhandari urged banks and financial institutions to support building a working atmosphere for foreign returnees back home. He also advocated for a bank loan facility to those pursuing foreign employment so as to liberate them from the situation of seeking loans at exorbitant interest rates.

This scheme launched by the Nabil Bank is targeted to those returning home from abroad.

Nabil Bank’s Chief Executive Officer, Gyanendra Prasad Dhungana, said that the scheme will be helpful for those returning home from abroad to start income-generating businesses and enterprises. The loan is available at a subsidized interest rate and a minimum service charge by keeping the proposed project as collateral. 

According to the bank, this loan is available at 1.5 percent interest rates with the ceiling of Rs 100 million.  It will be provided in four different categories and the duration of loan payment is 10 years.

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