Kathmandu, February 28:

As part of increasing engagement in bilateral trade, government plans to open three more trading points with China within the next three years.

Dr Jagadish Chandra Pokharel, vice-chairman of National Planning Commission (NPC), today disclosed that the three points of Rasuwagadhi-Galchhi, Hilsa-Simikot and Lomanthang-Jomsom would be opened for formal trading between Nepal and China, during the three-year interim plan beginning next fiscal year.

Speaking at an interaction on Wednesday organised by Reporters’ Club Nepal, Dr Pokharel informed that the government initially plans to open five points with the northern neighbour. “We have identified two more points at Dolpa and Taplejung districts as well,” he said.

All the five-points are expected to be operational by the next five years and it will make a total of six trading points with China. Currently, Kodari-Tatopani point is the sole trading point between Nepal and China.

NPC is busy at giving finishing touches to the interim plan, which will come into effect from the next fiscal year as a replacement of the five-year development plan, he said, “We are not in position to formulate the 11th Plan. So the interim plan will give continuity to the existing development activities as well as focus on rehabilitation and reconstruction works.”

Dr Pokharel also informed that there would be no major policy shift or changes in the interim plan. But it will provide a policy on inclusiveness, revival of economy as well as initiate measures to give peace dividend to people.

The government is seriously working on increasing public investment on infrastructure in order to build up private sector’s confidence towards building the nation, Dr Pokharel added. Public investment in sectors like road, irrigation, hydropower, health and education will see a massive increment in days to come.

Dr Shanker Prasad Sharma, former vice-chairman of NPC, also stressed on the need of increasing public investment in infrastructure building in order to refresh economy in the post-conflict situation.

“The government has lost credibility in development and reconstruction activities. So it is the right time to increase investment in such areas where public can feel peace dividend and private sector’s confidence gets enhanced,” he said.

Dr Dilli Raj Khanal, legislator and leader of CPN-UML, sought a complete overhauling of the existing economic policies to take the country into a new era of development. “The status quo approach cannot give any better results. Instead it will push the country into deeper crisis,” he added.

Surendra Bir Malakar, president of Nepal Chamber of Commerce, meanwhile, underlined the need for consistency in government policies, which will ensure a predictable business and investment environment.