We should develop gold and silver business as cottage industry: President

By A Staff Reporter,Kathmandu, Mar. 25: President Ram Chandra Paudel has said that the gold and silver business can be developed as a cottage industry.

In a meeting with a delegation of the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) on Friday, President Paudel said that if the gold and silver business were developed as a cottage industry, a lot of benefits could be derived from this sector.

The delegation of the Federation led by its president Manik Ratna Shakya reached the President Office in Maharajgunj and wished him a successful tenure.

“The state, businessmen and general consumers will benefit from operating this business using domestic labourers and skills,” President Paudel said, according to a press statement issued by the FENEGOSIDA.

President Paudel said that he was worried about the current economic situation of the country.

He said that considering the economic situation of the country, everyone should work to fulfil their responsibility from their respective areas.

He said that the necessary consultations would be made  to make the economy strong and effective as soon as the government gets a complete shape.

President Paudel said that the government and the private sector should work together to solve the current crisis.

He stressed the need for building a self-sufficient economy by increasing production and creating jobs within the country.

On the occasion, FENEGOSIDA president Shakya committed to providing all possible support on behalf of the gold and silver businessmen for economic development and prosperity.

Shakya said that the businessmen were facing problems due to lack of raw materials and pointed out need for focusing on the export promotion of Nepali jewelleries by ensuring import of sufficient raw materials.

Stating that the high interest rate imposed by the banks has affected the businessmen and general borrowers, he said that the state should also pay attention to the high bank interest rate and its impact on the national economy.