Govt to create 11,450 jobs in six months

Kathmandu, Nov. 14: The Ministry of Industry (MoI) Monday announced that it would create 11,450 jobs in the next six months.

These jobs will be generated in the cottage, small and medium enterprises (SMEs) with higher market and export potential.

Minister for Industry Nabindra Raj Joshi said at a press meet organised at the ministry that the government would train possible entrepreneurs in the field of their choice and provide incubation facility and further training to them if needed.

 The priority fields for employment generation are metal fabrication, noodles, furniture, wool and felt, Nepali handmade carpets, handmade paper and natural fibre.

“Likewise, fruit juice, off seasonal fruits, beekeeping, dhaka and thanka and many other areas are under consideration. These sectors can simultaneously create entrepreneurs and generate employment,” said Joshi.

He stated that there was a potential of creating about 50,000 jobs within a couple of years, and in the first phase, 11,450 jobs would be generated.

To enable the SMEs to enhance their capacity and generate more employment, the government is working to provide them concessional loans and refinancing facility.

The ministry has been coordinating with the Ministry of Finance and Nepal Rastra Bank towards this goal.

“At the same time, we have been thinking to ask international development partners to help the entrepreneurs in financing. We found that many entrepreneurs were unable to upgrade their enterprise in the absence of loans and refinancing facility,” Joshi said.

Meanwhile, the ministry has decided to lease out Butwal Spinning Mills to the private sector and find a way to end the government's obligation to the Gorakhkali Rubber Industry.

The government has been spending about Rs. 10 million every month in salaries for the workers of Gorakhkali Rubber Industry.

The minister informed that once the Hetauda Textile Mill came into operation, 6-8 per cent of its profits would be separated for maintenance so that funds were available for the maintenance and installation of new machines at the factory.

The government has already decided to run the mill in collaboration with the Nepal Army, Nepal Police and Armed Police Force, and is in the process of importing necessary equipment.

Speaking on a different note, minister Joshi said that the bills on Foreign Investment and Technology Transfer Act and Intellectual Property Act would be submitted to the cabinet soon.

“Once promulgated, these new legal provisions and the Industrial Enterprise Act, 2016 that is in the process of authentication by the President, will create an investment environment and boost the confidence of the business community. It will help to create more employment,” said the minister.