By A Staff Reporter

Kathmandu, Mar. 20: Finance Minister Dr Yuba Raj Khatiwada, who is also looking after the portfolio of the Ministry of Communication and Information Technology, said Thursday that there was no need to worry about the effect of coronavirus (COVID-19) on the entire economy saying that its effects would be minimum in most of the sectors except for tourism.
“The immediate effects of the coronavirus has been seen in the tourism sector of the country, but other sectors are still safe situation, therefore, it is not necessary to worry about the entire economy of the country,” Dr Khatiwada said at a press conference organised at Singha Durbar.
Although a significant impact has been seen in tourism related businesses, including aviation, hotels, travel and trekking, and souvenir shops, the entire economy would not be affected as tourism’s share in the gross domestic product (GDP) stands at only 3 per cent, he added.
He said that the government was thinking to address the problems faced by the tourism sector.
Discussions have started to address the problems faced by the temporary and part-time workers of the hotels and other tourism businesses by mobilising different welfare funds of the workers, he said.
Besides, discussion has begun to provide special facilities in principle and interest payment of their bank loan, and provide some flexibility in paying taxes, he said.
“The problem faced by businesses can be addressed through our previous practices applied in the sick industries,” he said.
Khatiwada said that there would not be any significant impact on foreign employment due to travel restrictions caused by COVID-19.
Khatiwada urged those who had been unable to join the foreign job-market due to coronavirus to register in local bodies for the Prime Minister Employment Programme.
Khatiwada said that the impact of possible decline in remittance would not have significant impact in
the national economy in the near future.
“As the immediate impact of decline in

remittance will fall on the liquidity in the financial sector, its effect will not be severe as the banking sector still possess investable fund worth Rs. 60 to 70 billion,” Khatiwada said.
He said that the possible problems in production, supply and inflation could also be addressed.
Minister for Industry, Commerce and Supplies Lekhraj Bhatta said that there was no problem in the supply of essential commodities, including food items and petroleum products.
He said that there was no need to fear a shortage of food items as the country had stock for four to six months and the import would continue completing the period of quarantine at the custom points.
Similarly, stock of medicine, salt and sugar