Thursday, 17th April 2014

Govt to honor investors investing over Rs 1 billion


Privacy Policy

The government is set to honor the investors investing over Rs 1 billion in various sectors in the country.

Briefing the media on the Ministry of Indus try’s main works so far on Monday, Ministry’s joint secretary Yam Kumari Khatiwada informed that the government has completed collecting the details of the investors investing over Rs 1 billion.

“The ministry is working on the procedure to felicitate the investors.”

The Ministry has also presented the Industrial Enterprise Act to the cabinet for ordinance approval, said Khatiwada.

Meanwhile, the government has granted the Biratnagar Jute Mill to India’s Binsam International Limited on lease for the period of 25 years.

As per the agreement, the company has agreed to pay Rs 135 million each year for five years. “Then, the rate will be increased by 5 percent at the interval of every two years.”

The design for the establishment of Cottage and Small Industries Sales and Exhibition Centre has started at Cottage and Small Industries Development Committee’s assets in Battish Putali.

“The total allocated budget for establishing the centre is Rs 4 million.”

The government has also allocated Rs 2.5 million budget for the development of handicraft collection centre in five development regions.