Economy not crisis-ridden like last year: PM Prachanda

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ claimed that the country’s economy was not crisis-ridden like last year.

Addressing the 25th annual general assembly of the Federation of Contractors’ Association of Nepal (FCAN) in Hetauda today, PM Prachanda asserted that there had been a positive improvement in the economic indicators.

He, however, said the national economy was not completely free from stressors and called for an intensive discussion on that.

Stating that preparations were afoot to incorporate all sectors in the upcoming policies, programmes and budget, Dahal shared that the government was effortful to clear the outstanding payment of the construction contractors.

On the occasion, PM Prachanda honored construction contractors Dhruba Karki and Roshan Shrestha for their notable delivery in the construction sector.

Similarly, the parliamentary Infrastructure Development Committee’s President Deepak Bahadur Singh demanded clearance of over Rs 60 billion of outstanding amount to contractors, amending the Public Procurement Regulations to prevent brain drain of youths engaged in the construction sector and completing compensation distribution among other works prior to calling tender.

Likewise, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chairperson Chandra Prasad Dhakal viewed that development works were adversely impeded due to the country’s fragile economic and industrial situation and thus urged the PM to resolve the problems facing the construction contractors.

He observed, “The government should understand that infrastructure development and development are the most important aspects for the development of the country. The projects could be delayed if there is a delay in payment to the contractors. The contractors have not been able to pay the bank’s installment of banks, laborers’ wages and large amounts of taxes. They are in trouble.”

Likewise, FCAN President Ravi Singh requested the government to be serious about their problems.

In attendance in the program were altogether 1,800 construction contractors from all 77 districts.