Kathmandu, Nov 24: Minister for Industry, Commerce and Supplies Damodar Bhandari has said that the government has promoted ‘Startup’ as a popular programme for young entrepreneurs and innovators.

Addressing a programme organized by the Ministry here today on the occasion of the 10th National Industry Day with the slogan ‘Entrepreneurial Culture: Nation’s Prosperity’, Minister Bhandari said that the private sector, and the banking and financial sector should also cooperate with the private sector to popularize the ‘Startup’ programme in the country.

The Industry Minister urged banks and financial institutions to connect with ‘startups’ to make the stagnant capital operational. He said that there is a need for cooperation between the government and the private sector to overcome the despondency seen in the industrial sector in the country. He said that the government is ready to join hands with the private sector after easing the legal complications.

Secretary at the Ministry Krishna Bahadur Raut, Commerce Secretary Govinda Bahadur Karki, former President of FNCCI Kush Kumar Joshi, Vice President of Federation Shurkrishna Baidya, and Chief Executive Officer of Investment Board Sushil Gyawali among others stressed on effective collaboration between government and private sectors to boost startup business.

Expressing concern that they could not increase the consumption of Nepali products, they complained that the products manufactured in Nepal were limited to fairs, festivals and exhibitions. Emphasizing on the need to increase the consumption of Nepali products from the government level, they said that the market cannot run until the consumption of Nepali products increases.

The speakers stressed on import substitution and expressed grievances that the Nepali industries were suffering as the customs tariff of raw materials imported by the domestic industries was higher than that of the imported goods. (RSS)