Kathmandu, May 8: President Ramchandra Paudel has said it is needed to promote small and cottage entrepreneurship to take the country towards a phase of industrial development.  

Inaugurating the 17th International Industrial Trade Fair and Cottage Industry Festival, 2081 BS here today, the Head of the State wanted the government to be responsible for promoting the cottage and small industries. 

Small industries are the foundation of the nation’s economy, according to the President who said,” Cottage and small industries have contributed to poverty alleviation, job creation, and economic sustainability.”  

He was of the opinion that the government and entrepreneurs should work hand in hand to promote such businesses by addressing issues of capital, availability of raw materials and skilled resources, competitive proficiency, marketing, and so on. 

In the event organised by the Federation of Nepali Cottage and Small Industries, the President said small industries can significantly contribute to the increment of production and productivity by using local skills, technologies, raw materials, and human resources.  He believed such industries could be a tool to promote local labour and culture internationally by achieving the community’s economic sustainability.  

As he said, cottage and small industries are marred by their hindered access to capital, the President said the State must ensure concessional loans for small and cottage entrepreneurship and come up with policies and programs targeting the promotion of such business. 

He also drew the government’s attention to the need to introduce and implement special programmes targeting micro, cottage, and small industries operated by women.  

The provision of a concessional loan and a discount on tax for small enterprises led by women and youths, the establishment of sales outlets, the market guarantee for their products, and the priority to consume such products are essential, according to the President.  (RSS)