NCC urges Prez Paudel to initiate project to boost economy

KATHMANDU: A delegation from the Nepal Chamber of Commerce (NCC) met with newly appointed President Ramchandra Paudel and offered him congratulations. The delegation led by NCC President Rajendra Malla wished President Paudel a successful tenure. During the meeting with NCC officials on Thursday at the Office of the President of Nepal, President Paudel expressed that he was worried about the current economic situation of the country. Taking into account the risky economic situation, everyone should bear the responsibility from their respective areas, President Paudel suggested and said that after the cabinet expansion, he will draw the attention of the prime minister and finance minister towards the issues that need to be addressed immediately. The President said the government and private sector should work together to solve the current crisis and suggested increasing production and creating employment in order to build a self-reliant economy. During the meeting, NCC President Malla expressed confidence that the President will show the way for economic development and prosperity. He stated that the economy has not kept up with the pace as expected due to lack of effective coordination of budget and monetary policy. He pointed out that entrepreneurs, businesspersons and general borrowers were seriously affected owing to the high-interest rate. Malla opined that economic activities could not return to normalcy due to the government's inability to increase capital expenditure. He stressed that the budget and monetary policy should be coordinated effectively and added single-digit interest rate should be maintained to make the economy prosperous and sustainable. [caption id="attachment_34720" align="alignnone" width="1000"] Officials of Nepal Chamber of Commerce alogn with President Ramchandra Paudel pose for a photo on the premises of the Office of the President of Nepal in Maharajgunj, Kathmandu, on Thursday, March 23, 2023.[/caption] The NCC President demanded the implementation of a lockup system in the interest rate in loans and claimed that this would maintain the financial balance and give relief to debtors. In the meeting with the President, Malla suggested that the country can be made self-reliant by modernising and using scientific agricultural production methods to utilise barren land. NCC President Malla also drew President Paudel's attention to the arrangement that the agricultural loan should be given to farmers instead of buyers. He also suggested making a project like President Soil Promotion which should be included in the national policy for self-reliant agriculture. READ ALSO:

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