Sunday Nov 27, 2022
Sunday Nov 27, 2022

Finance ministry forms taskforce to help start-ups


Nepalnews
2021 Jun 06, 18:34, Kathmandu

The Finance Ministry today held discussions with representatives of the private sector to implement the private sector related programmes that were announced in the budget for next fiscal year 2078/79.

During the meeting with representatives of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI), Nepal Chamber of Commerce and Nepal Bankers’ Association, the Finance Ministry has set up a taskforce to start groundwork to find ways to help start-ups in the country. The taskforce will also look into ways on how training programmes based on the nature of the work and employment generating programmes can be launched.

The task force, which is being led by Mahesh Bhattarai, Joint Secretary at the Ministry of Finance, includes representatives from Ministry of Industry, Commerce and Supplies, National Planning Commission, FNCCI and CNI.

Bhattarai informed that the taskforce will frame necessary working guidelines and work schedule by the end of the current fiscal year so that the programmes can be implemented immediately from the beginning of the next fiscal year.

The budget that was announced recently for the next fiscal year 2078/79 has included a policy whereby a loan of up to Rs 25 lakh will be provided to youths at one per cent interest to encourage them to open start-ups. The collateral for such loans will be the project itself. The budget has set up a Challenge Fund of Rs 1 billion for the purpose.

Similarly, the budget has also allocated Rs 1 billion to provide three-month salary to trainees in the productive and services sector. This programme is being launched to help the domestic industries avail skilled human resources.


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Nepal Bankers’ Association Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Confederation of Nepalese Industries (CNI) Nepal Chamber of Commerce Finance Ministry private sector budget start-ups
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