PM Oli: Government to provide startup loan assistance to 500 youths

Kathmandu: Prime Minister KP Sharma Oli has said at least 500 entrepreneurs would be provided with the ‘startup’ loan this year to make the youth entrepreneurs.

In the course of responding to queries of lawmakers in a meeting of the House of Representatives on Thursday, he said that the process for the selection has reached the final phase from the interested bidders in the program of providing loans in subsidized interest rates to attract investors in startup based entrepreneurship development by encouraging creativity and innovation.

He said that the government recently conducted a national labour and employment conference to prepare a sustainable basis for internal employment by expanding production and productivity in the country. PM Oli said that going abroad for the citizens of developed and rich countries for business, employment and study is a global trend as the world has now become the global village.

‘The statement about the brain drain of youth should not be understood in totally negative way. Earlier, there were limited options for livelihood. Now it has been broad. Our youths have taken advantage of choice of going any country they wish,’ said PM Oli.

He said they have been carrying out activities to create opportunities of employment and entrepreneurship to youths in the country.

PM Oli said that the government has made policy-level and legal reforms as well as business-friendly laws to create investment-friendly environment by improving industrial environment, to attract foreign investment by promoting internal investment, create employment by increasing production and productivity and to reduce trade deficit through promoting export.

RSS