Job creation priority of govt: PM

By A Staff Reporter,Kathmandu, July 23: Prime Minister KP Sharma Oli has said that entrepreneurship development and job creation are the priority of the present government. 

He made this remark during a meeting with a delegation of the Nepal Chamber of Commerce (NCCI) at his official residence in Baluwatar on Monday. 

Prime Minister Oli said that the work started strengthening the economic activities of the country and giving effective results. 

He said that the government would make policy decisions by evaluating the overall economic aspects of the country. 

Prime Minister Oli urged the businessmen to invest and operate business activities with confidence as the government was committed to addressing the problems of the private sector for the country’s economic development.

The delegation of NCC led by its president Kamlesh Kumar Agrawal congratulated the Prime Minister and wished him a successful tenure.

The NCC team submitted 43-point suggestions to Prime Minister Oli to make policy stability and economy viable.

Agrawal requested Prime Minister Oli to make the economy viable through effective coordination of budget and monetary policy. 

He said, "The country's economy has been in an unstable state for nearly four years. 

The effect of the COVID-19 pandemic, the impact of the Russia-Ukraine war on the global supply chain and the continuous shrinking policies of the last three years of the country have made the economic activities sluggish.”

He said that the economy should be made viable through the effective coordination of the current fiscal year's budget and the upcoming monetary policy.

Agrawal drew the attention of Prime Minister Oli to the imbalance between demand and supply due to shrinkage in economic activity, contraction in private sector assets and liquidity in banks and financial institutions, but there is no attraction of the private sector for investment.

The NCC has emphasised that the availability of working capital should be simple and easy for entrepreneurs until they get relief from the economic recession and the current working capital loan guidelines should be suspended immediately.