Govt committed to promote industries

Himalayan News Service

Kathmandu, January 7:

Government is committed to the promotion and development of industries and commerce, said Bharat Mohan Adhikari, deputy prime minister and finance minister, speaking at the inauguration of 25th annual general meeting of Lalitpur Chamber of Commerce and Industry (LCCI) in the capital today. He reiterated that the government was commitment to restore peace in the country. “The government is ready to hold talks with the Maoists in any agenda,” he added. The government should work as a facilitator and guardian to safe guard the private sectors for increasing the economic activities, Adhikari said. Agriculture, industries, education and service sectors are all affected due to the ongoing conflict and it should be brought to end before Nepal became a failed state, he added.

He also said that all sectors should coordinate with government to promote the socio economic culture in the country and emphasise on the development of private sector. The open and market oriented policy came into effect after the restoration of democracy about one-and-a-half decade ago had certainly helped in boosting the national economy.

However, before it could produce some good outcomes, civil war began and shattered the dreams of entrepreneurs, Indra Bahadur Shrestha, president of LCCI said. Development expenditure is decreasing and the allocated budget is also not reaching the local level, which is hampering economic growth, he added.

The phase-out of textile quota from January 1 has started showing its effect. And its high time we find an alternate to it, as it is the second largest foreign-currency earner for the country, Shrestha added. He also blamed government for being passive in the issue. Highlighting the need of increasing trade and commerce with Myanmar, Shrestha said that Nepal and Myanmar has similar culture and topography, which could help in boosting the bilateral trade. Transaction through banking channel will be more effective and beneficial for the country and it needs to be encouraged, he added. Shrestha also urged the need of Kanti Highway construction. This will not only serve as an alternate highway but also will help in developing southern part of Lalitpur as a business hub.

Speaking on the occasion, Binod Bahadur Shrestha, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the economic indicator is positive despite the adverse situation in the country. Private sector is sandwiched between the government and the Maoist. Government never forgets to collect revenues and taxes from the businessmen but had never been cooperative and trustworthy in providing security to them, he added.

Various industries were also awarded letter of appreciation for their contributions on the occasion.