NCC team calls on Vice President

By A Staff Reporter,Kathmandu, Apr. 4: A team of Nepal Chamber of Commerce met with Vice President Ramsahay Prasad Yadav on Monday and discussed the present economic situation of the country.

The delegation led by NCC president Rajendra Malla congratulated the newly appointed Vice President Yadav and wished him a successful tenure at the Vice President's residence in Lainchaur, Kathmandu.

During the meeting, Vice President Yadav said that the current situation of the economy was at risk.

According to Vice President Yadav, economic prosperity can be achieved only if the problems such as lack of liquidity, high interest rate, weak government spending and unemployment can be solved in a sustainable manner.

He also emphasised the need for continuous cooperation between the government and the private sector. According to a press statement of NCC, VP Yadav promised that he would draw the attention of the government agencies to the issued by the private sector.

He said that the private sector should also help the government in the study and research.

He said that the government should look for actual statistics before investing in economic, industrial, social and other sectors.

During the meeting, NCC President Malla asked the Vice President to play a coordinating role for economic development and prosperity.

He said, "Without effective coordination of budget and monetary policy, the economy has not been able to pick up the desired speed. Lately, due to the high interest rate, it has seriously affected entrepreneurs, businessmen and general borrowers.”

He said that economic activities could not return to normal due to the problem of not being able to spend capital budget in time.