Kathmandu. The government has stopped providing cash subsidy to entrepreneurs on exports.

The Department of Industry has issued a notice on the 23rd of July stating that the subsidy has been stopped. According to the Department, a letter dated September 5 from the Ministry of Industry, Commerce and Supplies has informed that it was not appropriate to take applications to create additional liabilities in the current fiscal year. On the basis of the same letter, it is stated that this notice has been issued for the information of all the stakeholders so that the details of the self-declaration for the fiscal year 2081/082 should not be submitted to the Department of Industry.

The government had been providing cash grants to promote the export of goods and services from Nepal. The government used to provide cash subsidy up to 8 percent of the value of goods exported above Rs 500 million by certifying at least 30 percent domestic value addition. The department has issued a notice and stopped the cash grant.