Lets Create Employment: Dr. Mahat

 Kathmandu, Jan. 1

Amidst the growing discontent in the private sector due to the recent row over the dedicated trunk line electricity supply and poor demand creation in the market, Finance Minister Dr. Prakash Sharan Mahat said that the door of the Ministry of Finance is always open to solve the problems of the industrialists and address the challenges.

Speaking at the closing programme of Morang Merchants Association Expo in Biratnagar on Monday, FM Dr. Mahat said, "Send the problems of industrialists and businessmen in writing or meet directly and remove the problem from discussion."

He also urged the private sector to join hands with the government in creating employment, according to the FM Dr. Mahat's secretariat.

According to the Minister, Nepali economy was in trouble and there are still some problems, however, positive signs will be seen in the coming days and the country would be on the path of growth. He said, "Currently available data confirm what I said now. We had announced through the budget that the economic growth rate would be 6.5 per cent, now the inflation rate has dropped to 5.38 per cent. Since the price increase in the neighboring countries has been moderated, it has also helped us."

Dr. Mahat also cited the upward trend in the stock market which has inched up from earlier 1800 and increased transactions in real estate to maintain that the economy is improving.

"Banks are reducing interest rates, which has led to an increase in credit flows, which may increase further in the coming days. The arrival of tourists is the highest ever," he said. Bank interest rate has dropped slightly below 10 per cent in a couple of years while the tourist arrival has crossed a million mark.

According to FM Dr. Mahat, poor infrastructure is the biggest challenge and due to poor infrastructure, potentials in tourism sector development has also been limited.

He said that in the coming days, the projects that will push the growth up would be prioritised and the budget will be allocated to the game changer projects. Minister Dr. Mahat said, "What is needed now is confidence, the negative propaganda that there is no future in this country has reduced the confidence. When all the indicators of the economy are positive, I request the industrialists, civil society and the media to start a positive debate."

Dr. Mahat also assured the business community that the government would announce further measures to protect Nepali industry and business. 

 Published in The Rising Nepal daily on 2 January 2024.