'Political instability impacted national economy'

Kathmandu, Dec 14: Minister for Communications and Information Technology Prithvi Subba Gurung argued that the instability in politics had adversely affected the national economy.     

At a programme organized by the Nepal Association of Financial Journalists (NAFIJ) marking its 15th annual general assembly here today, Minister Gurung reiterated the national economy was overshadowed by unstable politics. 

Stating that the incumbent government was working to ensure prosperity through improvement in the economy, Gurung, also Spokesperson of the government, said that the government emphasized addressing the issues that surfaced in the revenue collection and expenditure system.     

"Revenue collection has fallen short of target. The country's revenue system is based on customs and reduction in demand has led to a decline in revenue collection and weak capital expenditure," the Minister explained, expressing concern over the economic slowdown.     

According to him, efforts were on to amend the Public Procurement Act to streamline and simplify the expenditure system. He vowed to pay the outstanding money the government owes to the dairy and sugar farmers at the earliest.     

Likewise, FNCCI President Chandra Prasad Dhakal, appreciating the government's efforts to boost the confidence of the investors, assured of the private sector's collaboration with the government to address the national economic challenges.     

He called for collective efforts for the effective execution and implementation of government policies and plans and to prevent the situation that entrepreneurs and businesspersons being blacklisted for unpaid loans.     

"Government policies are crucial but their effective implementation is also equally crucial. All bodies concerned should be responsible for implementing the policies," the Minister asserted, stressing coordination between the Ministry of Finance and stakeholders.     

He opined that the government should clear outstanding payments to the construction entrepreneurs.     

Similarly, Nepal Chamber of Commerce's President Kamalesh Kumar Agrawal pressed for the stabilization of policies to address problems in the investment and business sector.     

He also reiterated the commitment of the private sector to cooperate with the government in collectively tackling the national economic challenges. (RSS)