PM Deuba directs authorities to work on reducing trade deficit

KATHMANDU: Prime Minister Sher Bahadur Deuba has directed all concerned authorities to formulate policies and programmes to keep the country's economic condition in balance and to reduce the trade deficit. PM Deuba instructed so at a ministerial meeting of the Development Issues Resolution Committee under the Ministry of Industry, Commerce and Supplies convened at his official residence in Baluwatar, Kathmandu on Tuesday. Expressing concern over the increasing trade deficit, the PM said, "Our trade deficit is in alarming state!" Deuba also directed the authorities to move ahead to make the national economy self-reliant and to increase investment in potential areas. He opined the production of domestic products has to be prioritised. [gallery link="file" columns="1" size="full" ids="21195"] According to him, the trade deficit could be reduced by increasing the utility of electricity. "We should formulate policies that promote usage of electric vehicles and electric stoves," he said. Stating that water is the potential resource for Nepal, the head of the government viewed that we have to increase electricity consumption to reduce huge money being spent on import of petroleum products. The review meeting was attended by representatives from the MoICS, National Planning Commission, Ministry of Finance, Ministry of Federal Affairs and General Administration among others. By RSS READ ALSO:

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