PM consults stakeholders to revive economy

Kathmandu, Nov 21: Prime Minister Pushpa Kamal Dahal 'Prachanda' on Tuesday held discussions with the politicians, private sector leaders, economists and stakeholders on the country's current economic condition.     

The PM is consulting with the stakeholders and experts to fix the country's economy as the economic activities have not progressed despite several attempts of the government.     

The PM had also discussed with the officials of different ministries, National Planning Commission, Nepal Rastra Bankk and others earlier on Monday.     

In today's discussions with the participants, the PM said that the government wished to collect recommendations from different sides as the country's economy is not free from pressure though the economy is gradually improving.     

"Some indicators of the economy are positive but it is not free from pressure. Further consultations are required to resolve the problems seen at present," PM Prachanda added.     

Likewise, President of Federation of Nepalese Chamber of Commerce and Industry (FNCCI) Chandra Prasad Dhakal said that the demand side has shrunk and the business community has witnessed insurmountable distress.     

He shared that the private sector was facing more hardships as the government turned a deaf ear to their challenges

In today's meeting, the private sector has raised the issues such as deficit government accounts, increment of budget on the heading of fiscal management but decline in capital expenditure, price inflation remaining over seven percent in last 20 months, operation of cement and rod manufacturing industries in nominal cost and trouble in the operation of small and medium entrepreneurs.     

The private sector has stressed the need for the state to increase capital spending and enable investment-friendly environment.     

Among the recommendations furnished by the private sector include evaluating Nepal's sovereign image, increasing electricity supply, bringing into operation the airports constructed placing priority on tourism sector and expediting road expansion.     

The FNCCI has drawn government's attention to the compulsion of Nepali students to get education in the Indian border area while stopping the establishment of new nursing colleges and flight of foreign capital.     

The private sector has recommended the government about the measures the Nepal Rastra Bank should adopt.     

The FNCCI had put forth a proposal for the formation of a high-level mechanism headed by Prime Minister in course of the economic summit hosted on October 12.     

Prime Minister Prachanda said the process to this effect has already started. He further said he was aspiring to receive inputs and deliberations as to how such mechanism will work in resolving existing economic problems. (RSS)