By A Staff Reporter
Kathmandu, Nov. 25: The Confederation of Nepalese Industries (CNI) has demanded formation of a powerful high level permanent committee to resolve the problems facing the sick industries.
During a discussion held with the committee formed by the government to study the sick industries and prepare a report the other day, Satish Kumar More, the president of CNI, demanded a permanent solution to the problems besetting sick industries by forming a committee as provisioned by the Industrial Business Act-2076 BS.
They discussed about the identification, classification, facilities, concessions and discounts and institutional arrangements of the sick industries, according to a press statement issued by the CNI.
Stating that the industry sector has been mired in trouble since the conflict, More said that the report prepared by the committee would be crucial in understanding the situation of the troubled industries and businesses due to the complexities in technology, capital and management.
He also suggested recommending a clear policy and legal provisions for exit policy for the completely sick industries.
He said that it was necessary to adopt an exit policy on the initiative of Nepal Rastra Bank (NRB) to free the industries and businesses that are not in operation now and are unlikely to be so even after taking loans in the future.
Earlier, the NRB had issued the working procedure 2070 regarding possible facilities from the financial sector in relation to sick industries.
He added that that procedure should be revised and implemented immediately.
As mentioned in the report of Sick Industry Rehabilitation High Level Task Force 2068 BS, 10 industries have been declared as sick industries and their information have been published in the Gazette.
President More said that it was necessary to recognise the report and implement it.
The CNI has demanded that the government should give partial or complete exemption from tariff, fee or revenue on the purchase or import of machinery, plant, parts, raw materials, other tools and equipment required for the rehabilitation of the ailing industries.
Committee coordinator Deepak Subedi said that the report would include the suggestions given by the confederation about the sick industry.