Kathmandu, June 1
The Federation of Export Entrepreneurs believes that the fiscal year 2079/80 budget will
benefit the export industry. The federation, which was founded under the slogan ”Export for Prosperity,” said in a statement on Tuesday that the budget has come to address Nepal’s import-export industry, which is a vital pillar of the country’s economy.
According to FEEN President Ram Bahadur Gurung, the budget for fiscal year 2079/80 was
good, based on the suggestions made to the government by the Federation of Export
Entrepreneurs. According to him, the budget has established international exhibition centers, organized international fairs for export purposes, provided cash subsidies of up to 8% on cement, treated water, steel, footwear, cement, and other items, and made Nepal’s laboratory international standard to ensure reliable exports.
The federation will assist the private sector in increasing production and processing of spices such as cardamom, ginger, herbs, turmeric, and other spices, as well as establish herbal processing centers at the state level based on herbal specialty and availability, lease
government land for 50 years to establish industries in order to attract foreign investment, and more. The mechanism of providing a two to fifteen percent reduction on power tariffs to enterprises using more than Rs. 100 million has been appreciated.
According to the federation, the budget has failed to address concerns such as lower banking interest rates, an automatic method of depositing export subsidies in the exporting company’s account after export, and the establishment of a permanent structure to supervise exports.
Although the budget for the fiscal year 2079/80 is good, the federation claims there is an issue with its implementation.
