As promised in the budget plan for the upcoming fiscal year, the government has organized a task force to finalize a mechanism for awarding concessional loans to entrepreneurs.
Officials from the Ministry of Finance met with private-sector organizations on Sunday and organized a team to perform the necessary homework for implementing startup and workplace-based training programs.
The team is led by the ministry’s joint secretary, Mahesh Bhattarai, and includes representatives from the Ministry of Industry, Commerce, and Supplies and the National Planning Commission on behalf of the government, as well as the Federation of Nepalese Chambers of Commerce and Industry and the Confederation of Nepalese Industries on behalf of the private sector.
The team has been tasked with developing working processes and action plans by mid-July, when the new fiscal year begins, and informing officials.
Meanwhile, entrepreneurs have stated that they have little expectation of receiving government assistance since they do not believe the announcements would be implemented efficiently.