We will give priority to manufacturing industries: Finance Minister

Published On: November 13, 2021 01:10 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Nov 13: Finance Minister Janardan Sharma has said that the manufacturing industry is a priority of the government. At an interaction organized by the Chamber of Commerce and Industry, Pokhara on Friday, he said that his goal is to build a productive economy in the country.

Expressing commitment to provide all the facilities required by the government to the manufacturing industry, he said, “If the industries want customs exemption or electricity or tax exemption, it will be given immediately.”

Minister Sharma claimed that the government was working towards creating an environment where electricity generated would be consumed in the country without any waste. Admitting that only 4.7 percent capital expenditure has been a matter of sorrow so far, he said that they are preparing to increase the expenditure by amending the Public Procurement Act.

Stating that a committee has been formed under the coordination of the Minister to amend the Public Procurement Act, Minister Sharma said that discussions were held with the executive directors of 27 commercial banks on Friday to solve the liquidity problem in the market.

Similarly, Central member of the Federation of Nepalese Chambers of Commerce and Industry Baburam Giri said that the government should take a tougher decision to break the monopoly imposed by the bank for profit.

He also urged the tourism sector to promote Nepal as a safe destination with proper vaccination in the international market to remove the liquidity and to intensify the business revival program.

Likewise, President of the Pokhara Tourism Council Gopi Bahadur Bhattarai said that the entrepreneurs affected by the pandemic were forced to pay 12 percent interest and demanded a quick solution to the liquidity problem.

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