Speaking at the meeting of Private Sector Development Committee under Nepal Business Forum held on Monday, he also directed secretaries to increase cash incentives and wipe out administrative hassles to promote exports. [break]
Secretaries at the industry, tourism, urban development, energy and labor ministries along with senior officials of Nepal Rastra Bank and Investment Board Nepal were present at the meeting.
Baskota also urged the officials concerned to formulate a work plan to utilize Rs 10 billion which has remained idle at Cottage Industry, Women Entrepreneurship and Technology Development Fund.
He also sought white paper from officials to arrange convenient legal provision for securing visas for investors and repatriation of investment to create business friendly environment in the country. Baskota also directed the secretaries to simplify procedures in foreign trade, adopt scientific system for fixing tax rates, ensure social security of workers, and introduce flexible labor laws.
Amid ballooning trade deficit, he also urged officials to seek measures to boost exports, discourage imports of luxurious goods and make IBN more efficient.
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