'Micro, small, medium and cottage enterprise sector remains govt priority'

KATHMANDU: Finance Minister Dr Swarnim Wagle, who is concurrently overseeing the Prime Minister's portfolio, affirmed today that the micro, small, medium, and cottage enterprise sector remains a primary focus for the government.

During a meeting with a delegation from the Federation of Nepal Cottage and Small Industries (FNCSI), Minister Wagle noted that the expansion of these enterprises is instrumental to the economic growth of the country. He confirmed the government's commitment to delivering as much support as possible to the sector.

Representing the FNCSI, the delegation offered suggestions for policy reforms aimed at developing these businesses. These included declaring the next 10 years the 'Decade of Small, Cottage, and Micro Industry Development', supplying concessional and zero-interest loans, and granting tax incentives to new enterprises.

Federation President Sobha Gurung stated that the group requested at least a 30% priority for domestic micro, small, and medium enterprise products within public procurement. She noted they also proposed a 'Make in Nepal' campaign, facilitation for exports, and government grants to introduce modern technology.

According to Gurung, the FNCSI proposed special entrepreneurship packages for women and youth returning from overseas employment, alongside the '100 Startup – 100 Investors' programme. They additionally suggested implementing a 'Fast-Track Industrial Service' to ensure government services related to industries operate more efficiently.

At the same event, FNCSI President Gurung handed over Rs 555,555 in cash relief to Acting Prime Minister and Finance Minister Wagle for the families impacted by the August 26 flash floods. The contribution has been successfully deposited into the Prime Minister's Disaster Relief Fund.

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