Published On: March 19, 2022 07:15 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, March 19: Manufacturers of hand-made products have demanded the government to increase cash incentives on exports to a double-digit percent.
Speaking at the 41st Annual General Meeting in Kathmandu on Friday, President of Federation of Handicraft Associations of Nepal (FHAN) Surendra Bhai Shakya said the government needs to raise the existing rate of cash incentives to boost the country’s exports. Shakya also demanded the government to simplify the procedure to receive the cash incentives being provided by the government.
The government now provides cash subsidies of up to 5 percent of the value of the exported goods. Three years ago, the government hiked the rate of the cash incentives from existing two percent.
Exporters complain that they have a hard time receiving the government’s cash incentive due to lengthy paperwork. Potential recipients need to present official letters from the Industry and Commerce ministries, the certificate of origin and bank documents.
Handicraft manufacturers have also sought the government to issue fumigation certificates on wooden crafts and related shipping containers, promotion of the collective trademark of Nepali handicrafts in international markets and installing handicrafts villages in all seven provinces. Permitting the money earned from trade fairs organized abroad via banking channels and use of local products in the government offices are among their other demands.
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