MoICS to stress entrepreneurship, employment

Kathmandu, May 3

The Ministry of Industry, Commerce and Supplies (MoICS) is formulating its budget programme for the upcoming fiscal year 2020-21 with a strategy to enhance entrepreneurship, employment, production and exports.

Chandra Kumar Ghimire, secretary at the ministry,  informed that the policies and programmes are being prepared by keeping the impact of the coronavirus on the country’s industrial and commercial sectors in mind. “The COVID-19 has had a huge impact on the economy. So, we need to revive the industry and commerce sectors as soon as possible,” he said.

According to him, most of the programmes are old ones and only a few new ones have been included. “Previous programmes such as establishment of Special Economic Zones, industrial zones, industrial villages and cross-country economic zones will be given continuity,” Ghimire said, adding that policies like creation of a conducive investment environment, development of cement industry as an export-oriented industry, and making the single point service centre and Company Registrar’s Office fully automated will also be included.

Apart from this, the ministry will include a new programme to build infrastructure for the operation of the Dhauwadi iron mine in Nawalparasi next  year, he added. “A budget of Rs 1.5 billion has been proposed for this and we plan to start excavation works next fiscal year.”

Similarly, the feasibility study of phosphite (mineral) in Baitadi and Bajhang for the production of chemical fertilisers is also a new programme that will be included, mentioned Ghimire. He informed that there has also been discussion to expand the Rural Enterprise and Disintegration Project and Micro Enterprise Development Programme in a more focused manner and to employ those returning from foreign employment and promote entrepreneurship.

“Similarly, a budget has been allocated for exploration of petroleum mines in Dailekh and we hope to complete this work by fiscal year 2021-22,” stated Ghimire. “Likewise, copper mines in Darchula, gold mines in Rolpa, uranium in Mustang and Manang, and iron in Gorkha and Bajura will be explored in the next fiscal year,” he added.

Before the government imposed the nationwide lockdown the Ministry of Finance had given a budget ceiling of Rs 11.5 billion to MoICS for the upcoming fiscal.

The policies and programmes for the next budget have been prepared by taking into account the aforementioned budget ceiling, he stated. Ghimire further said that the ministry has laid emphasis on the establishment of industrial infrastructure in the coming fiscal year.

An additional 120 industrial villages will be established in the upcoming fiscal year to boost production and employment at the local level. The work of establishing 32 industrial villages has already started in the current fiscal year.

A version of this article appears in e-paper on May 4, 2020, of The Himalayan Times.

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