‘Govt. committed to improving country’s economy’

Acting Prime Minister and Defence Minister, Purna Bahadur Khadka, has said the government was serious towards the attempts making by some interest groups for political advantages in the pretext of economic crisis.

At a programme organised on the 27th anniversary of the Society of Economic Journalists Nepal (SEJON) here today, acting PM urged the general people not to chase behind unruly crowd and to trust the government.

“There is no alternative to federal, democratic and republic system gained from sacrifice of thousands of people and a long political struggle. It is the need of hour to move ahead making this system further strong and responsible to the people”, he mentioned.

Stating that the government was active with full commitment to resolve the problems seen in country’s economy, the Defence Minister expressed the belief that the economy would head in right track soon.

He further said the government was ready to move ahead through constructive dialogue and collaboration with all—private sector and stakeholders, for the reforms of the economy.

World’s economy has been affected due to corona pandemic, Russia-Ukraine war and Israel-Palestine conflict and Nepal has also not remained untouched due to this, he viewed, pointing out, “We all should focus our efforts to increase income and employment by improving the environment of investment.”

Sharing that the government was serious to resolve all problems seen in the economy, the acting PM mentioned that the government has been taking possible efforts to improve it and signs of gradual improvement have started to be seen in this sector.

There are some positive signs in the economy, he said. “There are not only problems in the economy. There are some clear rays of hopes and improvements as well. Tourist influx is increasing, investment in the service sector is increasing. Remittances are also encouraging. Incomes entering in through the information technology sector has emerged as a new dimension of the country’s economy. The government is continuously effortful in increasing revenues. It is at work with a plan to make capital expenditures high and quality.” To attract investments, the government is organising the investment summit.

Acting PM Khadka pointed out an important role of economic journalists in times of problems in the economy asking them to contribute to the economic development of the country through journalism.

On the occasion, the Nepal Rastra Bank Governor Maha Prasad Adhikari said the regulation and monitoring of banks and financial institutions was being done effectively.

Similarly, Chairperson of the Securities Board of Nepal Ramesh Hamal blamed cumbersome administrative procedures for not being able to attract sufficient investments.

President of the Confederation of Nepalese Industries Rajesh Kumar Agrawal stressed the need for the respective sector including the government to responsibly work for the economic improvement in the country.

Also, President of the Nepal Chamber of Commerce Rajendra Malla commented that the amendment to the provision regarding the blacklisting of loan guarantors was positive.

Likewise, President of the Nepal Bankers’ Association, Sunil KC shared that the loan interest rate and the base rate had been decreasing lately while admitting that bad loans is increasing in banks and financial institutions.