Challenges still prevail despite signs of improvement in economy: PM Dahal

KATHMANDU: Prime Minister Pushpa Kamal Dahal has said although there are signs of improvement in the national economy, there is no situation to remain confident and challenges still prevail. At an economic symposium organised by Baahrakhari Media in Gokarna, Kathmandu on Saturday, PM Dahal stated that the government was working with the hope that economy-related issues could be resolved only through collective efforts. Addressing the event, Dahal underscored the need to study and analyse Nepali society in a special sense and work for the greater good of the country people besides studying values and philosophies propounded in the international arena. Lamenting over disappearing ideologies, principles and political values, the PM rued that the welfare of the nation was least prioritised and the welfare of the citizens was kept at bay while Nepal exercised consumerism and immediate loss and profit. The Head of the Government urged one and all to get rid of the mentality that foreign-made goods were standard while those made in Nepal were substandard. "Building of national economy and realising prosperous Nepal will only be possible once we abandon this mentality," he opined. Furthermore, he appealed to all Nepalis not to overly give importance to foreign experiences, education and instances and not to forget the qualities of Nepal and its uniqueness. "We must study the world and its experiences and instances must be studied.  Moreover, we must study the history of Nepal. We should read economy, political character, our country's qualities and uniqueness. While studying the model of the world and its experiences, let's study our country and let's formulate policies accordingly," mentioned PM Dahal. He stated that Nepal has its own economy, policy and own method of production which are unique and commented that many people were confused about it. "Our constitution outlines the three-pillar economic model of public, private and cooperatives which does not replicate with other models in the world," boasted the PM. "We are practicing the concept of three-tier government at present. It has a deep meaning within. We are committed to dismantling the centralised mentality and taking opportunities and development to the local level. The bureaucracy and security mechanism are not able to rise above the old thinking," the PM ranted, calling for more work on it. According to him, the three-tier government was established in the country to engage general public in economic and political activities thereby ensuring their socio-economic transformation. However, he argued that there was no change in the mentality of Singha Durbar-centric government. The PM asserted that the constitution of Nepal was promulgated incorporating good aspects of socialism and capitalism. He remarked that there was still a lack of clarity in the thinking of common Nepalis despite talking about neoliberalism and socialism. Presenting the facts about increasing revenue collection, foreign currency reserve and decreasing interest rates of the banks and financial institutions (BFIs), he pledged some important measures for reforms in annual policies and programmes, and budget of the government in upcoming fiscal year. Moreover, he assured that he will not introduce any acts and laws that were against the interest and welfare of the private sector. [caption id="attachment_35543" align="alignnone" width="1000"] Prime Minister Pushpa Kamal Dahal inaugurates Golf and Economic Symposium organised by Baahrakhari Media in Gokarna, Kathmandu on Saturday, April 22, 2023. Photo: RSS[/caption] Prior to addressing the event, the PM inaugurated the Gulf Competition organised by Baahrakhari Media. Similarly, Finance Minister Prakash Sharan Mahat expressed a commitment to resolve the problems seen in the economy. Minister Mahat opined that he was thinking of making policy-level interventions on some issues. He asserted that efforts have been made to make the economy dynamic and to remove obstacles adding initiatives have been taken to resolve problems seen in revenue collection. He informed that discussion with Nepal Rastra Bank leadership was underway to make the economy dynamic through monetary policy. On the occasion, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal stressed the need for moving ahead by resolving problems seen in the country's economy. He emphasized that existing problems of economy can be resolved only by joint initiative of the state and private sector. He expressed dissatisfaction towards the bill which puts private sector under the scope of Commission for the Investigation of Abuse of Authority (CIAA). The bill is under consideration in Parliament. Economist Achyut Wagle presented a working paper related to the economy.  Four other working papers were also presented at the economic symposium. By RSS READ ALSO:

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