Foreign currency demand creating stress on national economy: PM Deuba

PARSA: Prime Minister Sher Bahadur Deuba has said development cannot be realised unless the small and cottage industries are promoted and developed in the country. PM Deuba stressed the need for federal, provincial and local levels to forge collaboration to create employment for hundreds of thousands of Nepalis within the country and contribute to gross domestic product (GDP). He said it while inaugurating the 22nd National General Convention of Nepal Federation of Small and Cottage Industries in Parsa district, on Thursday. According to PM Deuba, the national economy is undergoing stress due to high demand for foreign currency. The goods and services produced abroad and imported in Nepal have gone up, he added. There is no option but to augment national production to reduce the trade deficit, he said, adding for this to happen, the government is committed to promoting private sectors. He further vowed that the government would take initiative to elevate the status of the small and cottage industries in the country which received severe dent by the Covid 19. Sustainable development and prosperity are the government’s priority, PM Deuba reminded. Mayor of Birgunj Metropolitan City, Bijay Sarabagi, viewed small entrepreneurs were meted out by the banks and such issues need to be addressed on time. READ ALSO:

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