November 30: Stakeholders have called for declaring the micro, cottage and small industries as priority sector like agriculture in order to build a self-reliant economy and reduce trade deficit.    
Speaking at a policy-level discussion programme organised by the Federation of Nepali Cottage and Small Industries in the capital recently, stakeholders urged the government to declare micro, cottage and small industries as priority sector considering their contribution to build self-sufficient economy and reduction in trade deficit.    
On the occasion, the federation’s President Umesh Prasad Singh said that promoting the micro, cottage and small industries through Industrial Enterprises Act would help build a prosperous economy.

He pointed out the need of making a concrete action plan and implementing it for import substitution, export promotion, employment generation and production.    
Singh also urged one and all to support the development of 'Virtual Market Place' operated commercially by the private sector.    
Stating that the practice of charging 300 per cent fine on industries if they fail to renew their license should be stopped, outgoing President of the Federation, Shyam Prasad Giri, stressed that the acts, rules and work procedures of the federal, provincial and local-level governments should complement each other.    
Bagmati Province government’s Minister for Industry, Ram Krishna Chitrakar stressed on revising the Acts designed to implement federalism. He added that although the Provincial Industrial Policy has not been made so far, it is in the process of formulation.    
Former Finance Secretary Shishir Dhungana and former Industry Secretary Yam Kumari Khatiwada presented working papers on subjects that needed to be incorporated in and amended in the province's Industrial Enterprises Act.    
The programme was organised jointly by the Federation and USAID Trade and Competitiveness. -- RSS