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Finance Minister Poudel asks private sector to come up with clear action plan

  1 min 37 sec to read

December 9: Around four-month long agitations in the Tarai and India's border blockade has hit country's economy hard.

According to the report presented at an interaction in the Finance Ministry, the embargo and protest has resulted in negative economy indicators, apart from weakening investment environment as opposed to previous years.
The report added that there is not encouraging environment for the investment in various sectors including tourism and infrastructure development among others.

Speaking at the event, Finance Minister Bishnu Prasad Poudel said that there is responsibility of the government, private sector and all stakeholders alike in improving the present situation in various sectors regardless of weakening investment environment.

Stating that preparations were underway to resolve political-related problems through constitution amendments, he urged the private sector to come up with a clear concept on addressing problems they are facing.
"Come with a clear action plan within seven days. The problems being faced by private sector would be decided upon after the Finance Ministry, Ministry of Commerce and Supplies, Industry Ministry and Nepal Rastra Bank forced common views on the matter," he said.

The minister also informed that initiations have been taken at political level to ease the supplies of essentials.
Likewise, chief economy advisor at Finance Ministry Prof. Dr Gobinda Nepal also requested private sector for having patience as the government would bring a clear action plan for improving country's economic situation.

Similarly, on the occasion, industrialists and various organisations like the Federation of Nepalese Chamber of Commerce, Industry and the Confederation of Nepalese Industry, Nepal Chamber of Commerce and Nepal Bankers' Association among others apprised the event of bad impact on country's economy due to the protest and blockade.

They have also demanded that a provision should be made soon to exempt custom and tax to revive affected industries and banks. RSS

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