Kathmandu, Jan. 30
Minister for Finance, Janardan Sharma said on Sunday that the country
lacked development-friendly policies.
“There is a lack of development-friendly structure and policy, and these
complexities have created obstruction to development,” he said at an
interaction with the economists at his office in Singha Durbar.
Likewise, FM Sharma said that many of the challenges were the offshoot of
ambiguous economic policies that should be formulated as per the constitution
of the country.
He maintained that politics was the root cause of all problems and said
that a consensus among the political parties was necessary to change the
situation.
“As there is no consensus among the political parties to create a clear
economic policy framework that suits the need of the country, policy is changed
with the change in government,” he said. “Actually, Nepal needs a clear
political framework citing the main economic policy of this federal republic,”
he added.
Experts taking part in the interaction maintained that the economy had not
collapsed as of yet, and suggested to adopt pragmatic approaches to stop it
from deteriorating.
According to the statement issued by the secretariat of FM Sharma, the
experts suggested the government to keep up the policy to control import until
there was enough foreign exchange reserve.
They also recommended to discourage the credit mobilisation in
unproductive sector, increase agricultural productivity and apply measures for
structural change in the economy.
Former Vice Chairmen of the National Planning, Dr. Shankar Sharma and Dr.
Min Bahadur Shrestha, former Ambassador to India Dr. Durgesh Man Singh and
economists Prof. Dr. Bishwambhar Pyakurel, Hari Roka and Dr. Ram Kumar Phuyal,
and other experts were present on the occasion.
Published in The Rising Nepal daily on 31 January 2022.
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