Govt to lease land for 50 years to establish industries

KATHMANDU: In its attempt to create an environment conducive to the establishment of industries in the country, the government has made provisions to lease state-owned land for 50 years. The provisions to rent the government land will be simplified with a target to end unemployment and ensure a favourable industrial environment. Announcing the budget for the fiscal year 2022/023 in the Federal Parliament today, Finance Minister Janardan Sharma made such an announcement aiming to give special focus to the industries meant to increase production within the country. The government has allocated Rs 3.45 billion for Nepali production and utilisation promotion programme. Likewise, Prime Minister Nepali Production and Consumption Promotion Programme has been announced through the budget for production growth, employment creation and trade promotion. Similarly, Minister Sharma announced that provisions have been arranged for the use of domestic productions in the state and public entities. Furthermore, Minister Sharma shared that Challenge Fund will be established to provide loans to the returnee migrants. READ ALSO:

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