PM Oli says government poised for double-digit economic growth

Published On: March 1, 2018 07:06 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Mar 1: Prime Minister KP Sharma Oli has said the government was working on a plan to hit a double-digit economic growth in the first quarter of the upcoming fiscal year alone. 

Receiving a proposal submitted by Nepal Chamber of Commerce at his official residence in Baluwatar on Thursday, PM Oli said the 6.9 percent economic growth rate of fiscal year 2016/17 would be increased to hit a double-digit growth rate to pursue the journey to prosperity. 

The Chamber of Commerce has emphasized on the need of making the next decade as the 'decade of double-digit economic growth'. 

Chamber president Rajesh Kaji Shrestha said that the proposal, submitted to the Prime Minister today on behalf of the private sector, calling for the overall economic development of the country stressed on collaboration between the private sector and the government for achieving the overall economic development.

The proposal contains recommendations on the development of the agriculture, energy and the tourism sectors among others. It also includes suggestions related to guaranteeing the rule of law and promotion of industrial development and foreign investment, revenue, share market, transportation, communication and infrastructure development and importation of petroleum products etc. 

Noting that too many public holidays has had a negative impact on the country's economy, the Chamber has suggested in the proposal that it would be better if the public holiday were given to the people of a specific community on the occasion of their respective festivals. 

Through the proposal, the private sector has urged the government to make the Acts related to the economic sector more accommodative and also to resolve the challenges of federalism, foreign trade and the banking sector problems. 

Finance Minister Dr Yubaraj Khatiwada on the occasion made it clear that they would move ahead for achieving the economic prosperity by also taking the private sector into confidence. 

Immediate-past president of the Chamber Suresh Kumar Basnet, senior vice-president Rajendra Malla, vice-president Kamalesh Kumar Agrawal, Mahendra Man Shrestha, Deepak Kumar Malhotra, Iccha Raj Tamang, Bhaskarraj Rajkarnikar among other Chamber officials were present in the meeting. RSS

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