Govt, private sector to work hand in hand for economic improvement: Minister Rijal

Minister for Industry, Commerce and Supplies Ramesh Rijal today stressed the need for both the government and the private sector to be responsible to resolve problems in the country’s economy.

The government would work hand in hand with the private sector as the latter is considered to have a big share in taking the country to prosperity, he said at the 57th annual general meeting of the Federation of Nepalese Chambers of Commerce and Industry.

“The country cannot pursue economic prosperity without the assistances of the private sector. There is a need for collaboration between the private sector and the government. For this, the government is always ready,” he said.

Stating that the government was always serious about problems facing the private sector, he urged them not to be discouraged.
“The country is going through challenges. Economic situation is not that good. There is a wide gap between exports and imports. Traders and industrialists are discouraged, Industries have come to a halt,” he said. Some factors like the COVID-19 pandemic and the Russia-Ukraine war are in part blamed for such economic situation in Nepal, he said.

“There are many problems in the policy and procedure levels. There are problems relating to forest, and land. There is a trend of work being stuck due to a lack of inter-sector coordination. There is no time to waste for carrying out improvements.”

He also urged the Prime Minister to resolve the issues of a liquidity crisis and excessive interest rates. “There is a lack of coordination between inter-sectors. There have been complaints that our policies are not the private sector friendly,” he said.