CNI’s recommendations highlight importance of domestic production in Nepal’s 16th plan

IMF Policy intervention in Nepal

KATHMANDU: The Confederation of Nepalese Industries (CNI) has provided recommendations to the National Planning Commission (NPC) for the formulation of the 16th plan, emphasizing the utmost importance of enhancing domestic production, reducing imports, and generating employment.

In an effort to shape the 16th plan, the CNI has submitted a comprehensive study report to the NPC, highlighting key priorities.

CNI President Rajesh Kumar Agrawal presented the study report to NPC Vice Chairman Dr. Min Bahadur Shrestha, underscoring the need for the 16th plan to center its efforts on advancing the industrial development of the nation.

Among the proposed recommendations, there is an emphasis on crafting an industrial development strategy, ensuring policy stability and predictability, prioritizing domestic production, and promoting the ‘Make in Nepal Domestic Initiative.’

The CNI has also urged the authorities to clamp down on illegal trade along the border areas, eliminate the dual taxation system to boost Nepal’s exports, and prioritize skill development.

In response to these suggestions, NPC Vice Chairman Dr. Shrestha conveyed that the 16th plan would concentrate on enhancing production, productivity, and job creation, noting that import substitution could only be achieved through increased production.

Dr. Shrestha also expressed the significance of the CNI’s study report in shaping the 16th plan and emphasized the importance of meaningful private sector involvement in the development of government policies and plans.

Fiscal Nepal |
Monday September 11, 2023, 10:57:44 AM |

Leave a Reply

Your email address will not be published. Required fields are marked *