The country's economy is not positive at present: Industry Minister

Published On: May 23, 2022 02:55 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, May 23: Minister for Industry, Commerce and Supplies Dilendra Prasad Badu has said that the country's economy is not positive at present.

Speaking at the 'Make in Nepal' Swadeshi Summit 2022 organized by the Confederation of Nepalese Industries in Kathmandu on Monday, Minister Badu said that the recent war in Russia and Ukraine has challenged the world economy and its impact has been felt in Nepal as well. Minister Badu said that Nepal is import-oriented in every commodity.

Stating that the import of domestically produced goods is also a matter of concern, Minister Badu said that an economic policy should be formulated to encourage exports and discourage imports. He said that the economy could not be improved without increasing domestic production and employment in the country. Minister Badu said that exports should be emphasized in order to boost the economy.

Similarly, Minister Badu said that industrial zones, industrial and special economic zones have been declared for the promotion of industrialization in the country. He said that the government is going to launch a Domestic Production and Consumption Growth Campaign from the next fiscal year.