Kathmandu, January 21:

Unemployment is the biggest problem that Nepal is facing today, said Rameshwor Khanal, secretary (revenue) at the Ministry of Finance here today addressing the 12th annual general meeting (AGM) of Nepal Britain Chamber of Commerce and Industry (NBCCI). “On one hand, a young and energetic group is unemployment and on the other there is a shortage of skilled manpower,” he said.

Dr Jagadish Chandra Pokharel, vice-chairman of the National Planning Commission, inaugurating the AGM said that Nepal can achieve 5.5 per cent growth. “Three Year Interim Plan will help achieve the target,” he added.

Mahendra Shrestha, president of NBCCI has presented a paper on ‘Challenges for Economic Development in Nepal.’ Agriculture and Rural Infrastructure, Burdensome Public Sector, Low Level of Social Development, Poor Infrastructure, Low Level of Industrial Development, Unfavourable Balance of Trade and Financial Sector are some of the key areas where the government and private sector both has to do a lot, according to him.

“Sustainable peace is a prerequisite for economic development,” IPP Rajendra Khetan said, adding that though the target growth rates are too moderate.

British Envoy to Nepal Dr Andrew Hall also addressed the meeting.