New industrial policy soon to see light of day

The draft of the new Industrial Policy-2065 chalked out by the task force formed by the government has incorporated separate provisions for small and cottage industries and women entrepreneurs by entitling them to extra privileges in taxes and capital availability.

The policy submitted to Minister for Industry Asta Laxmi Shakya on Friday also envisaged the role of local governments, private sector and cooperatives for industrial development of the country.

The policy has also stated that the potential small entrepreneurs would be provided with training at business incubation centers apart from easier access to capital through angel fund and venture capital fund.

It has also made provision that local bodies promoting such enterprises would get more grants from the center.

The policy has also featured the provision about the emerging industries such as information technology, business processing outsourcing (BPO) and biotechnology.

Minister Shakya expressed hope that the cabinet would endorse the draft of the policy without any further revisions. nepalnews.com Feb 14 09