NIC holds programme to discuss country’s economic crisis

KATHMANDU: Economists have said the government is not serious even when the country's economy is in crisis. Speakers at a programme titled "Problems in Economy and its Solutions" organised by the Nepal Intellectuals' Council (NIC) in Kathmandu, on Thursday, warned if the step is not taken to find solution in time, Nepal's economy will reach the level of Sri Lanka Speaking on the occasion, former minister and Deputy General Secretary of the CPN (UML) Pradeep Kumar Gyawali said the country is plunged into a serious crisis as most of the indicators of the economy turned red. He accused the government of showing a tendency to do what it should not do. Gyawali urged the government to curb wasteful spending, control the import of luxury goods, increase capital expenditure, stop the policy setting and stop interfering in the affair of Nepal Rastra Bank (NRB). On the occasion, former governor and former vice-chairman of the National Planning Commission (NPC), Dipendra Bahadur Chhetri, said that the parties were not serious about creating an environment for economic development. Chhetri said there should be coordination between the Ministry of Finance and the central bank. He also suggested that the subsidy should reach farmers to increase productivity in the agricultural sector. Similarly, former finance secretary Rameshwar Khanal said the projects started with foreign loans should be completed in time. He stressed the need to increase productive capacity and bring balance to current expenditure. Likewise, former Governor of NRB, Tilak Rawal, said it was a wrong step of the government to suspend NRB Governor Maha Prasad Adhikari. Rawal accused the state of encouraging smuggling and said the import of luxury goods should be stopped and the exports should be increased. Similarly, the NIC Chairman and former vice-chairman of NPC, Dinesh Chandra Devkota, said that in order to build a socialist economy, one should rise above the party and make intellectual intervention. He also called for building national capital, consolidating scattered capital, increasing production, reducing imports and building a socialist economy. Former Vice-Chairman of Lumbini State Planning Commission, Prakash Shrestha, made a presentation on the current state of Nepal's economy. NIC Vice-Chairman Bidhan Acharya made the welcome speech while General secretary Gajendra Prasad Thapaliya managed the programme presided over by NIC Chair Devkota. NIC Deputy General Secretary Sushil BK thanked all for attending the programme. READ ALSO:

• Slower yet gradual growth expected for Nepal's economy
• FinMin hopes to manage external pressure on economy
• Overall economy has not gone into tailspin yet: NRB