Govt to follow liberal economic policy

Finance Secretary Rameshore Khanal said Friday that the government would continue to adopt an economic policy based on liberalization and open market and hinted that the government would announce a new budget on the third week of September.

Speaking at an interaction organized by Reporters' Club on Friday, Khanal said that as promotion of competitive environment is essential for higher economic growth, the government will take measures to enhance healthy competition by promoting the private sector.

Khanal stressed on the need to ensure the supply of essential commodities to curb rising prices and informed the gathering that the government would bring policies to promote commercialization of agro products and exports. Only effective mobilization of human resources and promotion of the private sector can ensure healthy economic growth, he said.

During the same interaction, Kush Kuamr Joshi, president of Federation of Chambers of Commerce and Industry, warned that the economy was marching toward destruction owing largely to the petty interests of political parties.

All industries in Bara and Parsa are on the verge of collapse due to unnecessary politicalization of the work force, he said. Joshi also expressed ire over the failure of the government to act against the transport syndicates even after the recent Supreme Court ruling against them and strongly urged the government to sincerely implement law of the land.

President of Confederation of Nepalese Industries and member of the Constituent Assembly Binod Kumar Choudhary urged all concerned people to unite for the implementation of the one-point agenda of building the country and added that only such a unity would give a positive message to the private sector.

He said the government needed to create conducive environment to attract Rs 400 billion worth of investment from the private sector to achieve a ten percent growth rate and claimed that the per capita income of Nepalis could be raised to Rs 12,000 if the country achieved ten percent growth for ten straight years.

Former Vice Chairman of National Planning Commission Dr Shankar Sharma said only enhancement of the private sector could ensure a healthy economic growth rate. Dr Sharma also said the government needed to invest Rs 15 billion in irrigation to ensure healthy development of the agriculture sector.
Source: eKantipur