NPIA Set to Get Brand Support

After Herculean efforts, Nepal Pashmina Industries Association (NPIA) is finally getting the fund allocated for its brand promotion.

More than a month ago, Trade and Export Promotion Center (TEPC) Board allocated Rs 12.4 million to support the brand registration process of Nepali Pashmina but the fund was not made available due to lack of mechanism regarding fund flow.

However, the NPIA and TEPC have reached an agreement for the mechanism to grant the loan.

According to NPIA president Shanker Prasad Pandey, the TEPC board has decided that allocated fund will be released in three instalments.

TEPC board had sought the hard copy of the original bill of each expense during the brand registration process, whereas NPIA had the original electronic bills.

"Now, we have agreed upon presenting the original bills as we get our fund in three instalments," said Pandey adding that they would finalise the draft of their agreement with TEPC and that the fund would hopefully be released within this week.

Meanwhile, TEPC director Ramesh Kumar Shrestha said that the allocated fund will be forwarded as soon as the agreement between TEPC and NPIA is signed.

According to Pandey, Rs 1 million, Rs 0.8 million and Rs 0.3 million will be released in three instalments. "We have agreed to present the hard copy of original bills as we gradually we get our instalments from TEPC,"

said Pandey. TEPC board has made a fund allocation of Rs 25 lakh for the brand promotion of Nepali Pashmina. NPIA has set a brand logo of Nepali Pashmina with the name, `Chyangra Pashmina' for its brand registration in both the international and national markets.

According to yearly comparison data of handicraft goods exported during the fiscal year 2007-08 and 2008-09, 18 per cent increase in the export of pashmina products was observed in 2008-09 with pashmina products' share being 23 per cent in the total handicraft goods exported in the year, said Federation of Handicrafts Association of Nepal (FHAN).

Pashmina products worth Rs 584.26 million were exported during the fiscal year 2007-08. The export increased to Rs 686.62 million in the fiscal year 2008-09.