HoR Q&A session: 'Government to provide startup loan assistance to 500 youths'

Kathmandu, March 20: Prime Minister KP Sharma Oli has said at least 500 entrepreneurs would be provided with the 'startup' loan this year in order to make the youths entrepreneurs. 

In course of responding to queries of lawmakers in today's meeting of the House of Representatives, he shared that process for the selection has reached final phase from the interested bidders in the programme of providing loan in subsidized interest rate to attract investors in startup based entrepreneurship development by encouraging creativity and innovation.

Stating that the government recently conducted national labour and employment conference with an objective of preparing sustainable basis of internal employment by expanding production and productivity in the country, PM Oli mentioned that going abroad for the citizen 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", argued the Prime Minister. 

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

Prime Minister Oli added 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)