KATHMANDU: Chief Minister of Bagmati Province Kiran Thapa Magar has said that policy reforms would be made for the promotion of small and cottage industries, industrial security and production of new entrepreneurs.

At a discussion programme organised at the Maitighar secretariat of Federation of Nepal Cottage and Small Industries (FNCSI) at Maitighar, Minister Bhattarai said around seven lakh small and medium enterprises were operating in the country and their role was significant in preventing youth migration.

He said that ‘Kosli Ghar’ has already been constructed in Hetauda for the sale and promotion of local products and it will be expanded to other districts where land is available. The minister said that budget has been allocated for providing concessional loans to women entrepreneurs and for district-level industrial exhibitions.

He also said that the state government has made a separate legal provision to resolve the problem of relocation of industries due to local protests due to the development of settlements around the establishment of industries. Minister Magar expressed his commitment that the industries established after completing the necessary procedures including preliminary environmental examination would be provided security by preventing unnecessary relocation.

Stating that the bank interest rate had reached 14-15 per cent in the past but now it has increased to around 6-7 per cent, he said the interest rate should be fixed to facilitate the industrialists.

He also said that the state government is ready to amend the Act, Rules and Procedures to make it difficult for entrepreneurs. President of Federation of Nepal Cottage and Small Industries Shova Gurung called for simplification of industry registration and renewal process, promotion of domestic products, technology transfer, women and youth entrepreneurship and industry-friendly service system.

He suggested that at least 30 percent of the domestic MSME production should be made mandatory in the goods and services purchased by the public bodies.

On the occasion, FNCCI President Gurung demanded the establishment of national export house and ‘Koseli Griha’ at Bagmati province and local levels for the marketisation of small and women entrepreneurs’ products, allocation of budget for the construction of industrial village and establishment of a national level sales desk with the participation of FNCCI.

Rita Awal, president of the Central Women Entrepreneurs Committee of FNCCI, said that the entrepreneurs are in a difficult situation due to lack of capital, high interest rate, high interest rate, technology, market, raw materials and competition from imported goods, which have been contributing significantly to the economy of the province.

He also stressed on the need for the Bagmati Province government to establish Cottage and Small Industries Development Fund to provide concessional loan, revitalize sick industries, special budget and programmes for women entrepreneurs, prioritise local production in government procurement and link one municipality-one special production programme with branding, market and export.