Positive environment created for industries: Minister Rijal

 Kathmandu, Jan. 16

Minister for Industry Commerce and Supplies, Ramesh Rijal who completed nine months as minister, on Monday said that during his tenure he has put efforts to promote the industrial sector in the country, facilitate international trade and investment, and establish consumer-friendly market.

A statement issued by his secretariat on Tuesday stated that the two major border crossings with China - Tatopani and Rasuwagadhi - were brought to full operation and the meetings of the Industrial and Investment Promotion Board were resumed after about 11 months, and the number of industries receiving export subsidies and the share of exports in the total foreign trade have been increased. It said that these were his major achievements as minister.

"Similarly, the Nepal-China trade and transit agreement, which has been pending for a long time, has also been implemented. After Minister Rijal took over the leadership of the Ministry of Industry, Commerce and Supplies, works of reform in Nepal Oil Corporation have been completed," read the statement.

According to the Ministry, the major achievements include initial agreement for extending the 62 KM petroleum pipeline from Amlekhganj in Bara to Lothar in Chitwan and constructing a 50 KM petroleum pipeline from Siliguri in India to Charali in Jhapa, and developing greenfield terminals at both the places.

Likewise, laying the foundation stone of a new fuel storage house in Pokhara and Simra airport which had been stuck for the past five years has been done. Starting air fueling facility, auto billing of petroleum products and starting tanker lock system are among the major tasks.

Budget of Rs. 900 million allocated for the export cash subsidy programme has been fully spent and additional funds have been requested. A proposal has been submitted to the Council of Ministers for six announcements for the development of industrial villages, informed the Ministry.

In the current Fiscal Year 2023/24, Rs. 8.13 billion was allocated for the MoICS, of which 19.71 per cent (Rs. 1.6 billion) has been spent till mid-December 2023.

Similarly, the Department of Industry has exhibited good financial performance with the utilisation of 73.73 per cent of its allocated budget. Likewise, goiter control programme (Salt Trading Corporation Limited) has used 50.97 per cent. and sustainability programme for increasing Nepal's tea exports has spent 50.96 per cent of its annual budget in the first five months of the current fiscal year.

However, the MoICS's legal reforms initiatives have been pending at the Ministry of Finance (MoF) and Ministry of Law, Justice and Parliamentary Affairs (MoLJPA). By mid-December last year, 17 different policies and laws had been sent to the MoF and the MoLJPA for their opinion. Of the 12 issues sent to the MoF for opinion, opinion on only three issues have been received while no opinion has been received on three matters sent to the MoLJPA.

 Published in The Rising Nepal daily on 17 January 2024.