KATHMANDU, March 31: Deputy Prime Minister and Minister for Physical Infrastructure and Transport, Narayan Kaji Shrestha today assured that current weakening economy of the country would see improvement.
There was a need to immediately take steps for economic improvement, and the government had already done homework towards this end, said the DPM inaugurating the 24th Flora Expo organised here by the Floriculture Association Nepal (FAN). "We will not keep country's present economic situation as it is. For this, the government is serious and will make improvements soon," he said.
He also underscored the need for all, government, private sector, cooperative and community sector, to have their equal role in carrying out development activities, and making the country prosperous.
"The government is ready to bring all sectors onboard development activities according to the country's three-pillar economic model. The present economic situation is the problem of the entire country not only that of the private sector. All should unity to resolve it."
Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry, Chandra Dhakal suggested effective implementation of the issues and suggestion provided by the private sector to give a way out of the current economic situation. "The private sector had already assumed such situation to take place. The issues we have raised do have long-term impacts on the country's entire economy, not only on the private sector. But, the government did not implement them," he said.
Decreasing investments in agriculture has caused the shrinkage of domestic production, thus leading to an increment in the imports, pointed out the FAN Chairperson, Min Bahadur Tamang. "Banks and financial institutions could not invest substantially in agriculture. There should be a situation where in one can get loan by putting their project as collateral, and women entrepreneurship loan without collateral should be provided."
The floral business in Nepal has had an investment worth over Rs 7 billion, and annual transactions reached more than Rs 2.3 billion, it has been shared at the event. According to available data, flowers worth Rs 36 billion were imported from neighbouring India in the previous fiscal year, 2021/22.
There are 80 stalls in the fair, including 62 commercial stalls, three landscaping stalls, 10 official stalls, three competitive exhibition stalls and two food stalls. The stalls have seasonal flowers, cut flower, dry flower, orchids, compost fertilizer, flower seeds, green house, agricultural implements, pesticides, packaging materials and related things.
Flower nurseries, supplier companies, commercial and various organisations as well as floriculture businesspersons from India and Bangladesh are participating in the Floriculture Fair.
The Association believes that the fair will be useful forum for marketing flower and related products, for gaining new skills and knowledge related to this sector, and for acquiring information on the market situation.
The theme of the fair is - 'Floriculture Business for Clean Environment and Economic Prosperity'. It will run till April 3.