CNI welcomes government announcement to observe ‘domestic production decade’

Wed, May 25, 2022 2:28 PM on Latest, Economy,

Private sector has welcomed the government 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 the domestic products, expressing its support to the implementation of the ‘Make in Nepal’ campaign. 

The government in its policies and programmes for the fiscal year 2079/80 BS (2022-23) that were 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 in 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 in acquiring land for the establishment of industry, reviewing  provisions for land ceiling, creating industry-friendly atmosphere and  encouraging private sector for operating production-based industries suggested the government new policies and programmes are focused on the promotion of industrialization, according to CNI's assessment. 

 More, the announcement to involve private sector in power trade is itself the 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 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 nation’s economy, undertake large infrastructure projects on a public-private joint venture, make public expenditure result-oriented and increase the capital expenditure.