July 9: Government officials have said that the role of women entrepreneurs is important to keep the country's economy afloat. Speaking at the 'Standard Chartered NewBiz Business Women Summit and Awards 2023' organized by New Business Age in Kathmandu on Friday, Finance Minister Dr Prakash Sharan Mahat said that women who have been handling the economy of the house are now going to be in a position of running the economy of the country.
He emphasized that women should take the lead in the future to stabilize the enterprises. According to Minister Mahat, there is no capital limit in the information technology sector and women can take advantage of this as there is a provision for starting a company at Rs 100. He said that the work done by women is important.
He also thanked the organizers for representing women engaged in various fields of enterprise. Women's empowerment has also been given priority in the budget and the government has announced to create a women's industrial village for the first time in Panchkhaal, he added.
Speaking at the same event, Nepal Rastra Bank’s Governor Maha Prasad Adhikari said that the number of women entrepreneurs will increase encouragingly due to subsidized loans. He reminded that there is a program to give collateral-free loans of up to Rs 1.5 million to women for doing business and further added, “Three years ago, only 25,000 people took this loan. Now, more than 83,000 have taken loans of Rs 61 billion.”
Governor Adhikari said that women entrepreneurs will play a major role in reducing the trade imbalance.
"There is a good demand in the market for the products of women entrepreneurs," said Adhikari, "They can play a role in import substitution and export promotion by increasing production."
Citing the example of women in the leadership of large companies such as Daraz and Goldstar, he said that the participation of women in the modernization and innovation of Nepal is also great.
Adhikari informed that gender inclusion is increasing in the financial sector and for that, the NRB is conducting financial literacy programs. He also said that initiatives are being taken through the Ministry of Education to include the subject of financial literacy in the school curriculum. According to the governor, 49 per cent of men and 48 per cent of women have accounts in banks and financial institutions.
Stating that enterprise is important to advance the country's economy, Governor Adhikari said that in 2022, the gender imbalance has improved by 4 per cent worldwide.
“Gender imbalance should be gradually reduced in Nepal as well. We are doing it," he said.
Anirwan Ghosh Dastidar, Chief Executive Officer (CEO) of Standard Chartered Bank Nepal Limited, said that modern Nepali women are a source of power.
Saying that his bank aims to support the youth and small businesses in the community, he said that he is happy to see that women are active in bringing about meaningful changes in the professional system.
"Modern Nepalese women are powerhouses, who are leaving their mark in all fields of politics, fashion, business, science, sports, art, " CEO Dastidar said adding, "What we believe in at Standard Chartered is to support the youth and small businesses in our community. It is an important step towards increasing participation in our market and promoting financial inclusion, which will bring meaningful change.”
He also said that he was very proud to meet so many talented women entrepreneurs working to bring meaningful changes in the business system together under one roof.
Sabita Subedi, director of New Business Age Pvt. Ltd., said at the event that the main objective of the awards is to encourage women entrepreneurs. Subedi said that the state must create a favourable environment for women entrepreneurs to increase their contribution to the country's economy.
