Kathmandu, Oct. 15 -- The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal's apex private sector body, has urged the government to reinstate the recently scrapped export cash subsidy scheme. The body warns that the move will severely affect investment, exports, and employment.

On September 21, the Ministry of Industry, Commerce and Supplies asked exporters and businesses not to submit self-declaration forms for export details for the fiscal year 2024-25 to the Department of Industry. Subsequently, the department stopped accepting applications, effectively blocking exporters from claiming cash subsidies.

As per the provision, exporters could self-declare and apply for the subsidy within three months after the fisca...