Kathmandu, September 14

Prime Minister KP Sharma Oli has said that the current government will particularly focus on establishing good governance in the country and fostering economic growth.

Addressing an event in the Capital today, Oli said that both good governance and high economic growth are the prerequisites for the country’s development and prosperity and the government will not compromise in these fronts.

“The government will not tolerate any form of corruption and other activities that impede the country’s economic growth and development process,” said PM Oli, adding that the government is committed to not only fostering development but also bringing happiness to people’s lives through development, proper law and order, security and equality.

Citing that two-thirds of the country’s population relies on agriculture sector, Oli informed it is only by strengthening agricultural capacity and productivity that Nepal can achieve better economic growth. In a bid to strengthen the agricultural industry, he also vowed to implement various programmes that would help in modernisation and commercialisation of agriculture.

Similarly, Prime Minister Oli also stressed on the need to revive defunct industries and make the manufacturing sector competitive to increase the country’s production base and increase exports.

“Along with the end to political transition and formulation of appropriate business-friendly policies, Nepal today has become a favourable destination for investment. The government assures of investment security and urges domestic and foreign investors to invest in the country without any hesitation,” he added.

Giving his keynote speech, Gopal Krishna Agrawal, national spokesperson (economic affairs) of the Bharatiya Janata Party of India, said good and bold political and economic decisions are crucial for country’s economic development.

Citing that Nepal and India share common economic challenges like trade deficit, agricultural dependence, low employment rate, poverty and lack of skilled human resources, Agrawal said that both the countries should work together to tackle the challenges to economic growth and accelerate the development process.

Meanwhile, he also suggested the need for a strong regulatory mechanism in the country to foster desirable development goals.

On the occasion, Finance Minister Yubaraj Khatiwada said that Nepal’s development indicators have been positive in recent years and the government will do the needful to sustain them in coming days.

Meanwhile, former finance minister Ram Sharan Mahat said that though economic progress of Nepal is slow, the country has made high progress in the social sector like poverty and literacy in recent years. “However, there is a need for proper planning and policy execution from the government to achieve double digit economic growth as planned.”