Twenty-six sick industries that
were expecting relief package from the government, particularly after
the Prime Minister instructed Ministry of Industry (MoI) last week to
announce the package, are going to be disappointed again.
Instead of coordinating with the concerned ministries that were involved in working out the relief package, the MoI has decided to implement the ´incentives´ only after incorporating a provision of ´sick industry´ in the new Industrial Enterprises Act (IEA) that it is drafting.
MoI officials say the ministry cannot implement the package, which includes slew of incentives like taxi waiver, loans restructuring and other procedural facilities for sick industries on its own.
“We will need to incorporate a provision of sick industries in upcoming act before implementing it,” Umakant Jha, secretary of MoI, said, indicating that the package will not be implemented anytime soon.
Jha said the ministry was preparing to get rid of legal hurdles so as to implement the package as directed by the Prime Minister´s Office.
An eight-member taskforce comprising representatives from different stakeholders, including National Planning Commission (NPC), Ministry of Finance (MoF) and Nepal Rastra Bank - had prepared and submitted a report on sick industries to the Ministry of Industry a couple of months ago.
The report has labeled 26 industries, including Maruti Cement in Dharan, Bhrikuti Pulp and Paper in Nawalparasi, Basulinga Sugar and General Industry in Kailali and Shree Tiger Tops in Chitwan as sick units.
The ministry, which is supposed to be coordinating with all the line agencies to provide relief to the sick industries as envisioned in the report, is preparing to form different committees and technical teams for implementing the report prepared by the team led by Dipendra Bahadur Kshetry, vice-chairperson of the NPC.
"We will first incorporate the provisions for sick industries in the upcoming act," Anil Kumar Thakur, joint-secretary of the ministry and chief of the Industrial Promotion Division at the ministry, said.
“We are also in the process of forming a high-level team of legal experts to eliminate legal hurdles for implementing the report.”
Thakur said the ministry will expedite the process of providing incentives to the industries only after the draft of the act is endorsed. The new act will replace the existing Industrial Enterprises Act 1992.
Instead of coordinating with the concerned ministries that were involved in working out the relief package, the MoI has decided to implement the ´incentives´ only after incorporating a provision of ´sick industry´ in the new Industrial Enterprises Act (IEA) that it is drafting.
MoI officials say the ministry cannot implement the package, which includes slew of incentives like taxi waiver, loans restructuring and other procedural facilities for sick industries on its own.
“We will need to incorporate a provision of sick industries in upcoming act before implementing it,” Umakant Jha, secretary of MoI, said, indicating that the package will not be implemented anytime soon.
Jha said the ministry was preparing to get rid of legal hurdles so as to implement the package as directed by the Prime Minister´s Office.
An eight-member taskforce comprising representatives from different stakeholders, including National Planning Commission (NPC), Ministry of Finance (MoF) and Nepal Rastra Bank - had prepared and submitted a report on sick industries to the Ministry of Industry a couple of months ago.
The report has labeled 26 industries, including Maruti Cement in Dharan, Bhrikuti Pulp and Paper in Nawalparasi, Basulinga Sugar and General Industry in Kailali and Shree Tiger Tops in Chitwan as sick units.
The ministry, which is supposed to be coordinating with all the line agencies to provide relief to the sick industries as envisioned in the report, is preparing to form different committees and technical teams for implementing the report prepared by the team led by Dipendra Bahadur Kshetry, vice-chairperson of the NPC.
"We will first incorporate the provisions for sick industries in the upcoming act," Anil Kumar Thakur, joint-secretary of the ministry and chief of the Industrial Promotion Division at the ministry, said.
“We are also in the process of forming a high-level team of legal experts to eliminate legal hurdles for implementing the report.”
Thakur said the ministry will expedite the process of providing incentives to the industries only after the draft of the act is endorsed. The new act will replace the existing Industrial Enterprises Act 1992.
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