Government to Set Up Mines and Minerals Authority, Advance Dailekh Petroleum Production

Kathmandu — Finance Minister Dr. Swarnim Wagle has announced various plans and allocations for the industrial development sector through the budget.

Wagle said an Employment-Linked Production Zone will be operated as a model for the development and expansion of labour-intensive industries with export potential, including agro-processing, tourism services, and light manufacturing.

The Finance Minister said legal arrangements will be made regarding the corporate social responsibility of industrial establishments.

He said a sewerage system with a treatment plant will be operated in industrial areas and industrial corridors, using clean energy-based technology in collaboration between the government and the private sector.

Wagle said subsidised loan facilities will be provided to replace the traditional boilers in industrial establishments with electric boilers. He said Rs 220 million has been allocated to convert one hundred industries to electric or bio-briquette-based boilers.

The Finance Minister said Rs 650 million has been allocated for industrial infrastructure development.

He said mining-related licences will be reviewed, and the necessary geological labs and exploration testing will be arranged for studies up to phase two in the exploration of new mines.

Wagle said easy access, electricity supply, and transmission lines will be built up to mining areas, large industries, and industrial areas developed by the private sector that consume more than five megawatts of electricity. He said Rs 500 million has been allocated to design, build, and maintain industrial and mining access roads used by heavy vehicles, with special standards.

The Finance Minister said a Mines and Minerals Authority will be established for the overall regulation and management of the extraction, production, supply, and use of minerals and construction materials.

He said the necessary process will be advanced swiftly for the commercial production of petroleum in Dailekh. Work will be advanced to reduce the Government of Nepal's share in the Dhaubadi Iron Industry and operate it under a public-private partnership model.

The Finance Minister said arrangements will be made to extract, process, and supply stone, aggregate, and sand by identifying locations found to be environmentally suitable.