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Nepali govt plans incentives on garment exports
14 Feb '12
2 min read
Looking forward to uphold the domestic export sector and to encourage the enterprises in the country, the Nepali Government is considering export incentives for commodities like garments, carpets and handicrafts, which are largely exported to third countries.
The initiative proposed under the 'Immediate Action Plan for Economic Development and Prosperity' would allow the exporters of these items to avail additional incentives, Director General of Department of Industry, Dhurba Lal Rajbamshi, said.
These incentives would be different from the current cash incentive facility enjoyed by exporters.
In the past, the Ministry of Commerce and Supplies had recommended the Government for an export incentive facility, but the Centre gave a nod only for a cash incentive facility for exporters trading in convertible currencies.
In view of the set back suffered by the export sector around that period, the Cabinet on June 9 last year gave its approval for the cash incentive programme, to provide a boost to the industry.
As per the Government norms, an exporter becomes eligible for a two percent cash incentive for a product with 30 percent to 50 percent value addition, three percent incentive for product with 50 percent to 80 percent value addition and four percent incentive for a product with a value addition of beyond 80 percent.
The initiative proposed under the 'Immediate Action Plan for Economic Development and Prosperity' would allow the exporters of these items to avail additional incentives, Director General of Department of Industry, Dhurba Lal Rajbamshi, said.
These incentives would be different from the current cash incentive facility enjoyed by exporters.
In the past, the Ministry of Commerce and Supplies had recommended the Government for an export incentive facility, but the Centre gave a nod only for a cash incentive facility for exporters trading in convertible currencies.
In view of the set back suffered by the export sector around that period, the Cabinet on June 9 last year gave its approval for the cash incentive programme, to provide a boost to the industry.
As per the Government norms, an exporter becomes eligible for a two percent cash incentive for a product with 30 percent to 50 percent value addition, three percent incentive for product with 50 percent to 80 percent value addition and four percent incentive for a product with a value addition of beyond 80 percent.
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