National Planning Commission meeting

PM pledges to court private sector investment for development

Published On: December 8, 2018 10:25 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Dec 8: Prime Minister Khadga Prasad Oli said the government will work toward attracting private sector investment for the development of the country rather than relying on foreign loans.

Addressing a meeting of the National Planning Commission on Friday, Oli said that the dependence on foreign debt would be gradually reduced to utilize financial resources of the private sector of the country.

“We should not rely on foreign debt for development. Rather, our priority would be to attract the private sector investment in the country for development including in infrastructures as well as developing inland waterways,” Oli said.

Min Bahadur Shahi, a member of the NPC, told Republica that the meeting dwelt on the concept paper ‘Nepal’s Long Term Vision, 2043’ which will be put into implementation from the next Fiscal Year 2019/2020.

“The meeting rigorously discussed on the drivers of transformation as well as enablers of prosperity of the country,” said Shahi. “There was discussion about the 15th periodic plan and report on sustainable development goals planning, among other issues,” he added.

The meeting made various decisions including commitment from respective ministries to support the NPC on Nepal’s Long Term Vision, 2043 and 15th periodic plan by taking ownership by sector-wise ministries, according to a statement issued by the NPC after the meeting. 

The NPC meeting also decided to work toward getting the 15th periodic plan endorsed by the National Development Council, according to the statement. The meeting also endorsed the report on need assessment, cost estimation, and financial strategy on sustainable development goals with some amendments, the statement added.

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