Saturday, February 1, 2014

Ministry plans to propose to declare half dozen industries sick

Ministry of Industry is planning to recommend the cabinet to declare half a dozen industries including Pokhara-based Fulbari Resort and Chitwan-based Chitwan Wildlife Lodge as sick industries.
Based on the recommendation of a technical committee, the ministry is planning to recommend necessary facilities to revive them.
The ministry has to however seek inputs from Ministry of Tourism and Forest and Soil Conservation Ministry in the case of hotel Fulbari and Chitwan Wildlife Lodge.
A high-level committee led by former National Planning Commission (NPC) vice chair Deependra Bahadur Kshetry had suggested various facilities – including passage to exit from the business, providing loans at low interest rates, tax exemption and relaxation in loans provided earlier for industries that can be operated again – based on the degree of their sickness.
The industries that are prone to turn sick, they could be provided soft loan for a year, the committee had suggested.
The ministry had earlier proposed the cabinet to endorse Nepal Boards Ltd in Bara, Basuling Sugar Mill in Kailali, Birat Leather Industries and Birat Shoes Company in Hetauda as sick industries. But the cabinet has not decided yet.

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