Economic indicators gradually improving: PM Dahal

KATHMANDU: Prime Minister Pushpa Kamal Dahal has stated that the country's economic indicators are on a positive trajectory due to consistent efforts. 

Prior to seeking a vote of confidence in the House of Representatives today, he emphasised his continuous work since the beginning to improve the economy, and clarified that most of the economic indicators have shown improvement in the current situation.

"The balance of payment (BOP) is in reserve by Rs 297.72 billion in the seven-month period of the current fiscal year. The foreign exchange reserve has increased by 19.9% and is nearly equivalent to Rs 1.84 trillion," PM Dahal said, adding that the trade deficit has been reduced by 1.8%.

He further mentioned that inflation has been limited to 5.1% in the current fiscal year until mid-February and loan disbursement has increased by 4.7%.

"It's not that the government can't interpret the existing economic condition as a significant achievement, but the expected progress in domestic production and employment generation has not been made. Similarly, capital expenditure has not increased as expected. It's necessary to give extra impetus to the projects of national pride and priority, increase the capital expenditure, and further improve public service delivery," the Prime Minister pointed out on the occasion.

He made it clear that his priority is to make the administration mechanism efficient, remove procedural obstacles, and create an environment conducive for fully harnessing the capacity of the private sector.

"We are close to a power trade agreement with Bangladesh," Prime Minister Dahal announced on the occasion. He asserted that Nepal is close to electricity trade not only with India but also with Bangladesh. A tri-nation electricity trade agreement will be signed for exporting up to 40 megawatts of power from Nepal to Bangladesh.

"The door for electricity trade is opening towards China as well. This is not a small achievement, but we need to carry out a great deal of work in electricity infrastructure development to achieve this possibility," Dahal observed.

Stating that Nepal has now made its presence in the world forum on the concept of climate justice and equality, he recalled the visit of the UN Secretary-General Antonio Guterres to Nepal and Nepal's presentation at the COP-28 held in Dubai, which has sent a new message in that connection.

"We have given the message that Nepal will now lead the voice of mountain nations affected by the climate crisis," he said, expressing that the list of government's achievements is not short, but these achievements are not adequate to fulfil the country's needs and possibilities.

By RSS