Significant improvement in BoP : PM Prachanda

By TRN Online, Kathmandu, May 15: Prime Minister Pushpa Kamal Dahal 'Prachanda' said that balance of payment (BoP) has been improving due to steps taken by the government.

Addressing a program organized by Nepal National Employee Association, Nepal Rastra Bank on "Current Challenge of Economy and Future Course of Action of its Solution" the PM said that foreign exchange reserve has improved and the indicators that measure the liquidity and interest rate are also improving.

PM Prachanda shared that the government has been preparing the plan and policy for the forthcoming fiscal year (FY) and along with it process for the formulation the annual budget is moving ahead.

He said that the government is completely focused on sustainable economic development and prosperity.

The Prime Minister viewed that there is need to take coordinated initative from all the state apparatus, private sector and all the stake holders to achieve a goal of sustainable development and prosperity  

PM Prachanda pointed out the need for a significant structural and transformational change.

He maintained that the government has been taking important steps to face the economic challenges and is implementing various policy and programmes with an aim of good governance, prosperity and social justice. 

PM Prachanda said that government has been taking important steps to face the economic challenges and is implementing various policy and program with aim of good governance, prosperity and social justice. 

He said that there is no need to stand in long line due to improvement in service delivery. Books are being timely reached in schools. 

Government will ensure that famers will get fertilizer appropriate time. 

PM Prachanda extended his gratitude to people to show solidarity in taking action against corruption and government is serious against it. 

He further added that there is need to review of policy, plan and program as people are compelled to seek foreign employment due low level growth in production and employment creation has been very low.

Our economy has overcame the optimum level of challenges created from internal and external sectors.

Nepal Rastra Bank has provided some relief to industrialist and entrepreneurs through review in monetary policy in the third quarter. 

The government will in the upcoming fiscal year (FY) pursue for structural improvement, prioritize to allocate budget in the project and program with high rate of return, cutting unnecessary expense, increase capital expenditure, encourage private sector to enter in productive and employment creation activities.