19th January 2025, Kathmandu
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed strong support for the government’s recent decision to mandate the use of domestic products in public institutions.
Government’s Buy Nepali Policy
The government passed this important policy to promote the use of locally made goods, which is expected to help strengthen Nepal’s economy.
Government Passes Directive to Prioritize Domestic Products
On December 13, 2024, the Cabinet of Nepal approved the ‘Public Sector Domestic Product Usage Directive – 2024.’
This directive ensures all public institutions and government entities prioritize Nepali-made products. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged district and municipal chambers to help implement the policy locally.
Boosting Local Production and Job Creation
Minister of Industry and FNCCI President, Chandra Prasad Dhakal, praised the government’s decision. He sees it as a crucial step to support local industries.
The policy will encourage using local resources, increasing production, and creating jobs. It will also reduce reliance on imports. The move aims to promote Nepali businesses and expand the market for local products, especially in government procurement.
FNCCI Calls on Members to Support Nepali Goods
FNCCI has urged its members to support the policy. They should prioritize Nepali-made products in their businesses. President Dhakal believes this decision will allow businesses to contribute to Nepal’s economy. He hopes this will foster growth and ensure long-term market sustainability.
Government’s Commitment to Strengthen the Domestic Economy
The directive is based on Section 68 of the Industrial Business Act, 2019. This section gives the government authority to promote local goods.
The initiative will reduce Nepal’s reliance on imports and support the growth of domestic industries. FNCCI believes this policy will make Nepal’s economy stronger and more resilient.
Long-Term Impact on Nepal’s Industrial Sector
FNCCI expects long-term benefits for Nepal’s industrial sector. A steady demand for Nepali products will help local businesses grow. This will keep money within the country. FNCCI is optimistic that this effort will contribute to a stronger national economy.
For more: Government’s Buy Nepali Policy
