Government to take decision on unproductive industries soon

Government to take decision on unproductive industries soon

The government has to take decision on insolvent industries like Butwal Spinning Mill, Nepal Drugs and Nepal Oriend Magnesite – like Janakpur Cigarette factory – immediately, according to finance minister Shankar Prasad Koirala. Addressing the first trimester review meeting of the Trade Ministry, Koirala, who is also trade minister, said that no one has right to misuse the tax paid by the people. "The insolvent industries have become liability to the government sans productivity," he said, asking the officials to honestly address the programmes announced in the budget for the current fiscal year 2013-14 for the larger benefit of the people. The country has seen comparatively better investment friendly environment in recent months, Koirala added. Asking the officials to bring innovative ideas – like online company registration service at the Office of the Company Registrar – in other offices too, he said that the draft of Industry Act has been sent to the Cabinet. "Since the Constituent Assembly (CA) election has completed successfully, it would be better that the Act will come from the parliament," he said, adding that the relations between the private sector and government has become closer. "The successful operationalisation of Special Economic Zones (SEZ) soon will be a milestone in the industrial development of the country." The country is becoming self dependent on cement, which is a good indication, he said, hoping that it will be able to export cement in some years. "The government has to expedite the transmission line and access road to the mines foe the cement industries to facilitate them as promised," said trade secretary Krishna Gyawali, on the occasion. The ministry is also preparing industrial profile and announcing Prime Minister National Entrepreneur Award soon.
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