SEJON holds discussion on economic issues to mark 26th anniversary

KATHMANDU: Society of Economic Journalists-Nepal (SEJON) held a group discussion on the occasion of its 26th anniversary on Thursday. The discussion was held with the participation of political leaders and representatives of all three umbrella organisations of the private sector and stakeholders. Addressing the programme, Finance Minister Janardan Sharma claimed that the country did not experience economic crisis, however, it continues to deal with some challenges in the relevant sector. In his address, he said it would be a wrong assessment to understand the economy was in crisis. “But still there are some challenges and they should be addressed in collaboration with the private sector.” According to Minister Sharma, domestic economic indices are improving and lately, there is an increment in the foreign exchange reserves and remittance inflows. He explained, Nepal opted for a mixed economy and in this economic system, a sudden rise and fall is unlikely. Likewise, Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari said the country's economy had been on the path to improvement.  foreign exchange reserves were gradually increasing, and other problems in the country's economy resolving. Balance of payment remained at a surplus of Rs 6 billion this year as compared to a deficit of Rs 88 billion last year, NRB Governor Adhikari said. There was no need for the private sector to worry about, he said and added, "We are ready to resolve any problems being faced by the private sector." In the discussion, Nepali Congress General Secretary Gagan Kumar Thapa emphasized that collaboration with the private sector is necessary to resolve problems being faced by the country's economy. He shared the next government would collaborate with the private sector. "Country's economy cannot run in this situation", he opined, adding the next government would prioritise and carry out activities in collaboration with the private sector. He mentioned that support of the private sector is necessary to make the economy strong. Similarly, CPN (UML) Vice-Chair Bishnu Prasad Paudel stressed the need for the private sector to provide support to improve the country's economy. "Errors (if any) in the privatisation model should be corrected", he shared, adding that right policy and leadership were necessary to make the country's economic dynamic. On the occasion, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Shekhar Golchha said he has not seen a leader who bothers to cooperate with the private sector. He said the current problem is not the private sector's only but the whole country's. In the panel session, he questioned why there was a trend of hesitation to cooperate with the private sector when it is known that economic development is not possible without cooperation with the private sector. Similarly, Nepal Chamber of Commerce (NCC) President Rajendra Malla opined that even though political issues are different, the government should have the same opinion and uniformity in economic issues. He emphasized the need for an Economic Act now and said the work should be done on import substitution. Confederation of Nepalese Industries (CNI) President Vishnu Kumar Agarwal suggested prioritising economic issues. He was of the view that investors were facing problems due to misunderstandings and lack of cooperation between ministries. On the occasion, Nepal Bankers' Association (NBA) President Anil Kumar Upadhyay, said the government should work to make investable funds for the long term. READ ALSO:

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