7. Facilities

7.1 Chemical and Equipment Purchase Tax:

Necessary provisions shall be made for giving exemption on custom duty to be imposed while purchasing chemical materials and equipment on there commendation of Biotechnology Coordination Committee for a biotech industry or research institution. “Biotech industry” means an industry involved in any of the following activities:
 

To make research and development on the use of living systems and/or enzymes or bio-catalysts and produce goods through the use thereof.

To use the technologies relating, among other things, to genetic engineering or cell culture,microbiology,biochemistry, molecular biology and tissue culture.

7.2 The utmost necessary of electricity service for the development of biotechnology; shall be provided in subsidy price.

7.3 The Government shall provide land to establish a bio-village.

7.4 A Venture Capital Fund shall, by utilizing the capital market, be set up with the investment of Government of Nepal and private sector

7.5 As the Nepali citizens working in abroad may play a significant role on technology transfer and market promotion in this sector,the foreign currencies that they have generated shall been couraged to invest in this sector.

7.6 A provision of reward and admiration shall be made to encourage bio-technicians and the concerned industries.