The entrepreneurs have complained that although the government made the decision to provide the subsidized loan for the development of small and cottage industry, it has not been implemented yet. They blamed the banks and financial institutions of not paying heed to government decision to this regard.
The government had brought the provision of subsidized loan in a bid to promote the small and cottage industries, and women entrepreneurship.
Speakers at a programme relating to the loan for small industries, problems and solution organized jointly by the government, FNCCI and Nepal Federation of Small and Cottage Industries, in the capital city on Tuesday, Federation Chair Umesh Prasad Singh said the small entrepreneurs were confused how they could get the loan, which bank would provide it and what documents were required for it.
For lack of financial access in a convenient manner, the industrialists were unable to run their business to a full swing. A total of 411 billion was invested in some half million of small and cottage industries in Nepal which have contributed much to the national economy, but the industry runners were facing problems as banks failed to provide subsidized loan in a convenient manner, according to him.
On the occasion, undersecretary at Finance Ministry, Govind Prasad Subedi, however said the problems surfaced on implementation of the scheme of subsidized loan would be solved gradually.
The representatives from the banks had showed their concern over implementing the scheme.
Source: National News Agency Nepal