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Business capital grant capital grant proposal National Planning Commission NPC

NPC to extend deadline for capital grant proposal

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NPC to extend deadline for capital grant proposal
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KATHMANDU, JUNE 10

Due to the unfavourable scenario created by the coronavirus pandemic, the National Planning Commission (NPC) is planning to increase the deadline for brand spanking new start-ups and aspiring entrepreneurs to submit their proposal for capital grant.

On May 11, NPC had issued a primary discover calling for proposals for capital grant for start-ups and new entrepreneurs.

An NPC official stated that the fee is mulling over extending the deadline for submitting the proposal, which is expiring tomorrow (June 11) because the response has solely been lukewarm because of the coronavirus pandemic.

“As per the suggestion from the consultants, we’re going to lengthen the deadline to submit the proposal,” knowledgeable the supply.

On February 22, the Ministry of Finance (MoF) had launched the ‘Innovation Start-up Capital Grant Guidelines, 2020’, with an intention to advertise entrepreneurship within the nation and particularly these entrepreneurs who plan to develop high-quality innovations or programs by utilising new applied sciences by restricted sources.

The authorities has launched a brand new plan to offer as much as Rs 5 million in grant to such potential innovators.

MoF has stated the grant might be given to innovators, together with entrepreneurs, businesspersons or establishments, who wish to set up new ventures.

Earlier, Finance Minister Yubaraj Khatiwada had introduced about launching such a programme within the funds for the continuing fiscal yr. However, the rule of thumb was finalised solely eight months after the funds announcement.

During the announcement, Minister Khatiwada had stated the federal government would allocate funds yearly within the funds to advertise modern works.

According to the rules, the federal government will present an entrepreneur as much as 50 per cent of the whole funding required.

However, the grant quantity shall not exceed Rs 5 million.

As per the rules, inventors with modern information, expertise and experience in sectors comparable to data expertise, agriculture, power, well being care, tourism, and job creation by new improvements will obtain the grant.

The grant might be offered in three instalments — the primary after the enterprise has been initiated; the second primarily based on the progress and the third after completion of the undertaking.

A model of this text seems in e-paper on June 11, 2020, of The Himalayan Times.

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