Govt wakes up to revive defunct industrial units

Published On: December 13, 2016 01:20 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Dec 13: The Ministry of Industry is preparing to invite proposal from defunct industrial units interested to resume operations.

Speaking at a press meet, Minister for Industry Nabindra Raj Joshi said that such units will be asked to submit proposals elaborating their plan to resume operations. 

According to the industry ministry officials, industries will have to outline the reasons that led them to shut operations and submit a proposal on how they intend to resume operation. 

Joshi said that the government was committed to facilitate reopening of such industries.

“These industries can also seek procedural support, assistance in market access, monetary incentives and policy facilitation, among others, from the government. We will study the applications by forming an evaluation committee,” he said, adding that the government will take decision on providing support to such industries later on.

Promoters of defunct industries can submit their proposal through all units of Ministry of Industry within 21 days. 

The Ministry of Industry plans to publish a public notice, seeking proposals from defunct industrial units within few days.

Joshi estimates that thousands of industries can come on board the government plan of rejuvenating defunct industries. 

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