Govt to lease land for 50 yrs to establish industries

NL Today

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Kathmandu: In its attempt to create conducive environment for 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 would be made further simplified with a target to end unemployment and ensure favourable industrial environment.

Announcing the budget for the fiscal year 2022/023 in the Federal Parliament today, Finance Minister Janardan Sharma made such announcement aiming to give special focus for the industries meant to increase production within the country.

The government has allocated Rs 3.45 billion for Nepali production and utilization promotion program.
Likewise, Prime Minister Nepali Production and Consumption Promotion Program 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 announced to establish a Challenge Fund to provide loan to the returnee migrants.