Banking News – Prime Minister Balendra Shah (Balen) has reaffirmed the government’s commitment to promoting Nepal’s handicraft industry through supportive policies, employment generation, and the preservation of traditional craftsmanship.

Speaking during a meeting with representatives of the Federation of Handicraft Associations of Nepal at the Office of the Prime Minister and Council of Ministers on Wednesday, the Prime Minister said the government is positive about the proposal to establish a Handicraft Development Board under a Public-Private Partnership (PPP) model.

Representatives of the federation expressed their readiness to work closely with the government to promote, expand, and preserve Nepal’s handicraft industry, stating that the current administration has shown a strong commitment to supporting the sector.

The federation also urged the government to officially recognize National Handicraft Day at the national level. Currently, the organization observes the occasion independently each year on Mangsir 28. In response, Prime Minister Shah instructed his team to immediately coordinate with the Ministry of Home Affairs regarding the proposal.

During the discussion, federation officials also recommended replacing the current self-declaration system for handicraft exports with a mandatory invoice-based valuation system, arguing that it would improve transparency and increase government revenue. The Prime Minister assured participants that the government would consider implementing the recommendation.

The Prime Minister also addressed concerns over the five percent export incentive for handicraft products, which has reportedly remained suspended for the past three years. He assured business representatives that efforts would be made to reinstate the incentive.

Federation representatives further requested that the SAARC Handicraft Development Centre building, constructed within the Department of Industry premises but currently occupied by another office, be handed over for its intended purpose. They also proposed the establishment of a Handicraft Village in the Kathmandu Valley and skill development training centres in all seven provinces.

Prime Minister Shah expressed keen interest in these proposals and reiterated the government’s commitment to preserving Nepal’s traditional arts and crafts while creating greater employment opportunities through the handicraft sector.

The meeting was attended by Federation President Rabindra Shakya, Senior Vice President Rajman Bajracharya, Vice President Kiran Kumar Sthapit, Advisor Bikash Ratna Dhakhwa, and leading handicraft exporter Maheshwar Shrestha.