Ministry of Industry (MoI) has decided to provide 100 million rupees in grant to the Nepal Eye Centre for its capacity enhancement.
Organizing a press conference at the MoI, Minister for Industry Nabindra Raj Joshi said that the amount will be spent to develop infrastructure and set up intraocular lens manufacturing facility and expand its market abroad.
Minister Joshi said, "The eye lenses manufactured in Nepal are world class. Nepal is currently exporting such lenses to 17 countries and the target is to expand the market across 50 countries."
Similarly, the government has also decided to provide 10.5 million rupees in grant assistance to the National Invention Centre set up by the Ramon Magsaysay Award recipient Dr Mahabir Pun.
The Minister expressed his confidence that the Centre would help establish the research and development culture in the country and the grant assistance would facilitate it.
Furthermore, Minister Joshi said that government is going to set up an industrial development fund to attract both national and international investors alike.
Minister Joshi stated that the objective of the fund also includes enabling investment-friendly environment for industrial promotion, sustainable economic development and facilitation in mobilization of the capital for running industries among others.
On the occasion, Minister Joshi shared that the once-defunct and now functional Nepal Drug Limited has already started producing oral rehydration salts (ORS) brand Jeevan Jal after a hiatus of eight years.
The produce has already been dispatched to various districts in Mid-Western and Far-Western region.