May 4: The government is planning to announce the upcoming budget with special focus on coronavirus-affected sectors. Ministry of Finance is currently preparing the government’s policies and programmes to address the concerns of industrial sector, tourism industry as well as labor and employment issues.

Along with neighboring India, many other countries have announced stimulus package. However, the government of Nepal has not yet announced any such package.

But the government has decided to give subsidies to the affected areas. Issues like giving income tax relief for three to seven years based on production of the industries, postponing loan repayment for six months and limiting interest rate to nine percent are some the measures being considered by the government.

 The government is also planning to allocate budget for providing employment opportunity to the returnee migrant workers.

According to the ministry, the returnee migrant workers will get jobs on the basis of their skills. Government officials informed that the government will give continuity to the Prime Minister Employment Fund in the coming years. The officials say that all these concerns will be addressed by the budget for the upcoming fiscal year 2020/21.

Pressure to include informal sector and laborers

Members of Parliament have been pressurizing the government to address all the concerns of small and medium scale industries. During a discussion on Sunday, MPs said that the government must prepare some relief for informal sectors workers and small enterprises as well.

As many migrant laborers and other local workers are under the risk of losing their job, the lawmakers demanded that the government address their concerns promptly. During the meeting, leaders of various political parties said that industrial zone should be established in all 753 local units. Also, according to them, infrastructures should be expanded so that Nepal can store petrol for at least three months. The MPs demanded the government to address all these concerns in the next fiscal year’s budget.