Gurung for caution in taking loans

Kathmandu, October 20:

CPN-Maoists leader Dev Gurung has underlined the need to put an end to the trend of taking foreign loans in rampant and irregular manner. He said: “We Nepalis should accept such loan only in case of genuine requirement.”

Speaking at a symposium organised by the Management Association of Nepal (MAN)to discuss on ‘’Fiscal Policy of Maoists’’ here today, Maoist Leader Gurung said, “The state should lay emphasis on the maximum use of domestic capital.” He also expressed the view that the state should not move ahead on the basis of recommendations of the World Bank and Asian Development Bank in the name of liberalisation.

Stating that his Party maintains a view that the state should place primary emphasis on collection, mobilisation and distribution of the national capital, he pointed out the need to conserve domestic industry and create competitive environment for the industry.

He said: “It is possible to uplift the living standard of the people living below the poverty line within five years time.” Gurung emphasised on the need to launch green revolution through collective farming system and implementation of cooperative

system for reform in agriculture sector.

Speaking on the occasion, Dr Bimal Prasad Koirala of the MAN said that the Maoists’ view on country’s economic policy is still vague which is confusing the general masses.