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Government Prepares to Revive Closed Private-Sector Enterprises

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Government Prepares to Revive Closed Private-Sector Enterprises
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December 13: The government is preparing to revive the defunct private enterprises. The government that is working to stimulate the closed public enterprises is also planning to revive the closed enterprises of private sector as well.  Ministry of Finance has requested entrepreneurs to contact the ministry with an obvious reason of closure of the industries. Organising a press meet on December 12, Nabindra Raj Joshi, Minister of Industry requested entrepreneurs, business person, workers, local people and political party for re-operation of the closed industries.

The Ministry is issuing a public notice in order to collect the details of the non-operational industry on December 14.  According to Joshi, the details of industries which have possibilities to re-operate will be submitted to the government after three weeks of publishing notice.

 Joshi said that the companies having possibilities to re-operate will get assistance for legal and procedure ease, physical infrastructure development and market access. "The ministry is forwarding with a plan of generating employment within the country strengthening the economy," he said.

The private sector can submit application to the Ministry of Industry, Department of Industry or Department of Cottage and Small Industries for the revival of closed industries. The ministry has also facilitated application submission through email. After studying and evaluating the proposals, the Ministry will ease the process of re-operation.

According to the Ministry, thousands of private industries are closed due to various reasons including disruption from locals, political interference and non-cooperation of the government.   The  applicants requires to mention details such as reason of closure, present condition of industry (financial, operational, capacity),  condition of infrastructure, condition before closure, possibilities for revitalization and the needed government support to the Ministry.  Industrial Minister Joshi has put forward an ambitious plan of generating 50,000 employments within a country in a year.

 

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