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Thu, April 25, 2024

CNI welcomes govt announcement to observe ‘domestic production decade’

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KATHMANDU: Private sector has welcomed the government's decision to celebrate the upcoming decade as a decade for production and consumption of domestic goods. The Confederation of Nepalese Industries (CNI) has expressed its gratitude to the government for its decision to announce a decade dedicated to promoting the production and consumption of domestic products, expressing its support for the implementation of the ‘Make in Nepal’ campaign. The government in its policies and programmes for the fiscal year 2022/23 presented by President Bidya Devi Bhandari before a joint session of the Federal Parliament on Tuesday stated that the upcoming decade will be observed as the decade of domestic production and consumption. It has pledged a subsidy in tax and customs duty in the production and supplies of domestic goods. The CNI is hopeful that the announcement will help enable the industrial atmosphere in Nepal. Moreover, the announcement to facilitate in acquiring land for the establishment of industry, reviewing provisions for land ceiling, creating industry-friendly atmosphere and encouraging the private sector for operating production-based industries suggests that the government’s new policies and programmes are focused on the promotion of industrialisation, according to CNI's assessment. The announcement to involve private sector in power trade is itself encouraging for its role in international power trade, the CNI said. It has hailed the declaration to ensure power supply to private sector at a low tariff, to develop tourism as a means of earning foreign currency and to implement the Digital Nepal Framework. It has also welcomed the decision to recognise the contribution of remittance to national economy, undertake large infrastructure projects on a public-private joint venture, make public expenditure result-oriented and increase the capital expenditure. READ ALSO:  
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MARCH 2024

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