President Paudel : Cottage and small industries need promotion from State level

Kathmandu: President Ramchandra Paudel has said it is needed to promote small and cottage entrepreneurship to take the country towards a phase of industrial development.

Inaugurating the 17th International Industrial Trade Fair and Cottage Industry Festival, 2081 BS on Wednesday. The President wanted the government to be responsible for promoting the cottage and small industries. Small industries are the foundation of the nation’s economy. ‘Cottage and small industries have contributed to poverty alleviation, job creation, and economic sustainability.’ said President Paudel.

He thought that the government and entrepreneurs should work hand in hand to promote such businesses by addressing issues of capital, availability of raw materials and skilled resources, competitive proficiency, marketing, and so on. In the event organised by the Federation of Nepali Cottage and Small Industries, the President said small industries can significantly contribute to the increment of production and productivity by using local skills, technologies, raw materials, and human resources.

He believed such industries could be a tool to promote local labour and culture internationally by achieving the community’s economic sustainability and small industries are marred by their hindered access to capital, the President said the State must ensure concessional loans for small and cottage entrepreneurship and come up with policies and programs targeting the promotion of such business.

Likewise, President Paudel drew the government’s attention to the need to introduce and implement special programmes targeting micro, cottage, and small industries operated by women. The provision of a concessional loan and a discount on tax for small enterprises led by women and youths, the establishment of sales outlets, the market guarantee for their products, and the priority to consume such products are essential.

RSS