NCC delegation meets Oli, discusses economy

By A Staff Reporter,Kathmandu, May 11: A delegation of the Nepal Chamber of Commerce (NCC) met with the Chairman of CPN (UML) and former Prime Minister, KP Sharma Oli and drew his attention to the current state of the economy. 

The delegation led by Chamber president Kamlesh Kumar Agrawal met with CPN (UML) Chairman Oli at his residence in Balkot, Bhaktapur, on Friday.

The NCC drew the attention of CPN (UML) chair Oli to the fact that the economy is going through stagnation and should be addressed through the government's policies and programmes and budget.  NCC President Agrawal said that due to the recession in the economy, the assets of the private sector have declined by up to 50 per cent. He said that economic and fiscal policies should be facilitated to bring the sluggish economy back on the right track. 

Agrawal said that the time has come to keep the economy running and boost the morale of the private sector through effective coordination of fiscal and monetary policies.

He said, "Due to the policies taken in the past, the economy has reached a stagnant situation. Economic activity has slowed down due to trade difficulties, a contraction of the stock market, and a slowdown in the real estate business. The government should take effective policies and programmes to make the economy vibrant."

In a statement released by the Chamber, it is said, "Small and medium entrepreneurs have suffered because the cooperative sector is problematic. The problem of the cooperative sector should be solved immediately."

During the meeting, Oli said that the government will introduce policies and programmes considering the national interest as paramount. He said that he would take the initiative to solve the problems of the private sector.