Government focused in promoting export: Finance Minister; government ready to give subsity on a number of aspects like electricity, tax etc.

-RSS

Minister for Finance Dr Yubaraj Khatiwada has said that readymade garment was an important sector to promote export from the country.

Speaking at the 26th annual general meeting of Nepal Readymade Garment Association here on Friday, Finance Minister Dr Khatiwada said the government has a clear policy to promote domestic products by also sharing the cost in the production. "The government is ready to give subsidy in electricity, tax and others, and is also ready to deal in a package to uplift the garment and cloth industry of the country," he added.

He also shared that the procurement act was being amended in order to make the mandatory provision for security bodies, public schools and hospitals to use Nepal-made products including readymade garments and cloths more effective. Other initiatives underway to promote export and production include amendments to the Industrial Business Act, Foreign Employment and Technology Transfer Act, and Public-Private Partnership Investment Act, and the Company Act.

The government is also serious in integrating matters relating to new industry registration, operation license, foreign exchange and other procedures, Dr Khatiwada said.