KATHMANDU: Minister for Forests and Environment Shakti Bahadur Basnet has reiterated that forests could be turned into the main source of country's prosperity through its proper utilisation.

He expressed this view while holding discussions with the mediapersons at his official residence in Pulchok on Monday.

The Minister said that forestry sector held extensive and immense possibilities for the economic prosperity of the country.

"Along with the extensive prospects the forest sector holds, there also lies the challenge of synchronising its conservation and utilisation. Good governance should be the precondition in this connection," he said.

Minister Basnet also expressed the belief that people's needs could be fulfilled, employment generated and the national economy reinforced through appropriate management of forests with minimum investment.

"We can substitute the timber import and opt for its export with proper utilisation and management of the forests," he suggested.

Likewise, he pointed out the need of policy and institutional-level restructuring for the management of forests at the federal, province and local levels with the adoption of federalism in the country.

Minister Basnet further expressed his commitment to move ahead by formulating an action plan for pursuing works related to forest management and environment conservation in the days ahead.