Kathmandu. Minister for Law, Justice and Parliamentary Affairs Sobita Gautam has said that women should be ensured access to capital, credit and investment opportunities for the development of women entrepreneurship. She said that it is necessary to ensure that women are not only looking for opportunities but also creating opportunities and establishing ownership in the economy.
Addressing a long-term forum on ensuring women’s access to capital, credit and opportunities under Simrik Initiative, Minister Gautam stressed on the need of collaboration among the government, private sector and non-governmental organizations for the promotion of women’s entrepreneurship. “Women need to be not only in a place where they have opportunities, but also in a place where they are creating opportunities,” she said.
There is a need to connect women’s skills, abilities and business thinking with capital and investment and make them in a position to establish ownership in the economy. For this, there should be cooperation between the government, private sector and non-governmental organizations. She said that women have been facing difficulties in getting loans from banks and financial institutions due to lack of collateral while trying to run their enterprises.
Giving the example of agricultural enterprises, she said that if women who are producing and selling in the market want to expand their business, lack of capital becomes a hindrance. She said that the system of investment based on the business potential and planning of women will help them to expand their enterprises.
She said, “Some women sisters are doing agricultural enterprises, producing and selling them in the market. Now if they want to open a shop or expand their business, they need capital. When they go to the bank, they ask for collateral. When the land or house is not in their name, they are not in a position to get a loan even though they have the potential and skills. Therefore, an environment should be created to invest on the basis of how feasible their business plan is, rather than whether they have a mortgage or not.” Minister Gautam said that she has taken the initiative of the Private Equity Fund from the private sector with the aim of investing in women’s entrepreneurship positively. She expressed confidence that this initiative will help women to become financially empowered and establish ownership of property and participate in the mainstream of the economy.
Stating that works of various sectors have been affected due to lack of expected progress in formulating and amending necessary laws after the promulgation of the new constitution, she said that a legal basis was indispensable to build necessary infrastructures for development. Stating that the government has planned to take 166 bills to the parliament in the current fiscal year, Minister Gautam said that more than 54 bills have been approved by the Council of Ministers and more than 40 bills have been registered in the Parliament. He said that lawmakers from both the ruling and opposition parties were contributing through amendments and discussions to make the bill effective. Stating that preparations were underway to formulate laws related to the agriculture sector, she urged women involved in agriculture enterprises to give suggestions on the proposed laws.
She added that the suggestions received through the website of the Ministry of Law could be collected and reviewed and incorporated in the course of law formulation and amendment.
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