Finance Minister Janardan Sharma has underscored the need to boost cooperation between the government and the private sector to realise economic development.

"A significant portion of the national economy is sustained by the private sector. The government is only a facilitator. Seventy per cent of the entire economy hinges on the private sector," he reminded. According to him, the government is committed to creating industry-friendly environment.

Minister Sharma expressed such views during a meeting with representatives of Nepal Chamber of Commerce. The officer bearers of the Chamber held talks with the finance minister today in connection with the homework for the upcoming budget.

On the occasion, Chamber Chair Rajendra Malla said that imports should be managed well to maintain balance of payment. The import of industrial raw materials and daily consumable items should be managed in such a manner that it wipes out the shortage of things.

Chamber officials complained that export was not promoted because there was no facilitation of the export process. Malla viewed, "If laboratories of international standard is set up at the major customs points, it will help create a favourable atmosphere for the import of quality goods," he argued.

According to Chairperson Malla, maximum import of petroleum products is the reason behind ballooning trade loss. He also suggested that the realty business must be brought under the tax system.

A version of this article appears in the print on April 29, 2022, of The Himalayan Times.