Traders seek cash incentive for export promotion
Kathmandu, Jan 4: The unit ratio of the country’s import to export is 12:1. This means that per every unit of Re 1 worth of export, Nepal imports goods worth Rs 12. This disparity in the country’s import and export trade was shared in a news conference organised by the Nepal Export Council here today. On the occasion, the private sector exporters demanded that the government should increase the cash incentives for export promotion by import substitution to end the disparity.
They argued that the two percent cash incentive that the government was providing to the exporters at present is insufficient and pressed for increasing it to 15 percent. Council’s chairman Surendra Kumar Shrestha said the drop in the annual export of Nepali products to the amount of Rs 73 billion from Rs 86 billion last year and Rs 91 billion three years ago has painted a bleak picture in the export. Export Day will be organised on January 6 with the support of the council and the Federation of Handicraft Associations of Nepal with an aim to draw the attention of the government to promote export-oriented industries, a main source of attracting foreign exchange. RSS