Hemanta Joshi
Kathmandu, March 5: Amid the slowdown of economic activities and its repercussions in the economic indicators, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ on Sunday held a meeting with the stakeholders and bankers on identifying the challenges and solution to the issues facing economy at present.
Government expenditure and revenue collection are lower than the target but the inflation rate is higher and the private sector that suffered after the COVID-19 pandemic is yet to regain its strength.
In the recent times, liquidity crunch and higher interest rate and crisis in the microfinance and cooperatives have posed more pressure on the country’s economic activities, leaving the poor people at the receiving end.
After the discussions with the representatives of the Nepal Rastra Bank (NRB), private sector and BFIs, PM Prachanda has assured the private sector to form a high-level commission pledging to troubleshoot the economic challenges as he said the government was serious towards possible gloomy picture of economy. “I am informed and conscious to the people’s grievances towards banks and microfinances. I have been taking feedback from all sectors to resolve the challenges,” the PM assured.
On the occasion, PM said he was serious to the attempts made by some anarchic elements to create fiscal anarchy.
Talking to the RSS after holding talks with the PM, President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Shekhar Golchha said that the loanees, who have suffered badly, should be supported through some policy-level interventions. The troubled loanees should be sympathized and the State should address their problems but disobeying to pay the loan deliberately is anarchy, the FNCCI President said.
Likewise, Chairman of Confederation of Nepalis Industries Bishnu Kumar Agrawal said that the PM was urged to address the economic woes of the country as liquidity crunch, higher interest rate and production costs have increased in the country.
Agrawal said that the production cost could be reduced if the price of the petroleum products was slashed down.
Chairman of Nepal Chamber of Commerce Rajendra Malla said that the PM has given assurance to address the challenges. He, however, said that the private sector has not realized the changes despite the government’s efforts. “The government is doing something. But, that’s inadequate. We are optimistic to the government,” he concluded. (RSS)
