Government to Set Up "Special Economic Administration Zone" for One-Stop Decisions

Kathmandu — The government will remain committed to industry and industrial innovation, Finance Minister Dr. Swarnim Wagle announced through the budget.

In line with the policy of expanding quality industrial infrastructure, Wagle said industrial areas such as Motipur and Mayurdhap will be built and operated by the private sector. He said women entrepreneurs will be given priority in the Panchkhal Special Economic Zone, and that additional concessions will be provided to women entrepreneurs in credit flow.

The Finance Minister said arrangements will be made for a "Special Economic Administration Zone," where all decisions on tax, customs, import, export, and investment are made from a single location.

To enhance the competitiveness of manufacturing industries, Wagle said the electricity demand charge will be reviewed and a provision made to grant discounts on electricity tariffs. He said industrialists will be allowed to mortgage, for banking purposes, the structures built on land provided in industrial areas, special economic zones, and on lease.

Finally, the Finance Minister said industries and businesses that have been unable to operate at full capacity due to a lack of capital will be provided a "business revival loan" to encourage them to expand capacity and grow.