KATHMANDU, AUGUST 24
President Ramchandra Paudel has stated that country's economic development was possible only if encouraging participation of private sector was ensured.
At a meeting with a delegation of Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on Thursday, President Paudel stressed the need of collaboration between the government and private sector to bring about reforms in the economy.
Issuing a press statement, FNCCI said that the President opined that economic activities at present are slow due to problems in the country's economy and added that he was aware about the realities facing the industrialists and business community amid this tough time.
"Lack of employment creation, heavy reliance on remittance inflow, reducing exports, lack of domestic and foreign investment and disruption in service delivery have been reported. This has resulted in high inflation and challenges to the small and medium-scale industries. Against this backdrop, I consider partnership of private and public sectors," according to the statement.
The President also said attention of all should be focused to uplift the country's economy and create employment.
