The private sector has welcomed the government's decision to celebrate the upcoming decade as a decade for the production and consumption of domestic goods.
The Confederation of Nepalese Industries (CNI) 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 programs for the fiscal year 2079/80 BS (2022-23) presented by the President before a joint session of the Federal Parliament on Tuesday, stated that the upcoming decade would be observed as the decade of domestic production and consumption.
It has pledged a subsidy in tax and customs duty on the production and supplies of domestic goods. The Confederation is hopeful the announcement would help in enabling the industrial atmosphere in Nepal.
More the announcements to facilitate acquiring land for the establishment of industry, reviewing provisions for land ceiling, creating an industry-friendly atmosphere, and encouraging the private sector to operate production-based industries suggested in the government's new policies and programs are focused on the promotion of industrialization, according to CNI's assessment.
The announcement to involve the private sector in power trade is itself an encouragement to the private sector for its role in international power trade, the Confederation said. It has, likewise, hailed the declaration to ensure power supply to the 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 recognize the contribution of remittance to the nation’s economy, undertake large infrastructure projects on a public-private joint venture, make public expenditure result-oriented, and increase capital expenditure.
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