Thursday, 30 May, 2024

PM Deuba stresses measures to prevent economic decline


By A Staff Reporter
Kathmandu, Mar. 30: Prime Minister Sher Bahadur Deuba has urged the stakeholders to be sensitive towards preventing further deterioration of the economic situation and stressed on strengthening it.
Showing serious concern over the present economic situation of the country, he instructed the concerned stakeholders to be vigilant against the rising prices, widening trade deficit and declining foreign currency reserves.

He made this remark while addressing the meeting of the National Development Action Committee (NDAC) on Tuesday.
Though the meeting of the NDAC has to be held every four months, this is the first meeting of the Committee since Deuba became the Prime Minister in July 2021.
The meeting was attended by officials of the National Planning Commission, Ministers of different ministries, Chief Ministers of Provinces, Secretaries of various ministries, officials of District Coordination Committees, Municipal Association and National Association of Rural Municipalities.

According to Dr. Ram Kumar Phuyal, a member of the National Planning Commission, Prime Minister Deuba had urged caution in promoting the national economy and development.
“Everyone should focus on import substitution measures to reduce trade deficit and increase foreign exchange reserves,” Deuba said at the meeting.

During the meeting, Finance Minister Janardan Sharma also informed that all possible initiatives are being taken for import substitution and control trade deficit.
According to Phuyal, progress reports of national pride projects were also analysed in the meeting. Discussions were held on national pride projects, the contract process in the implementation of transformational projects, availability of construction materials, legal complexities and other issues.

The Province Chief Ministers participating in the meeting had pointed out that there was a problem in prioritization of the projects and this led to duplication and lack of coordination in the work.
Similarly, it was pointed out in the meeting that lack of Provincial Civil Service Act and lack of manpower would cause problems in the implementation of province and local level projects.
Prime Minister Deuba had pointed out the need for coordination, cooperation and support to make the implementation of federalism effective.

“There may be some weaknesses in the implementation of federalism, which has been achieved through the long struggle of the people,” he said. “We have to move forward taking the mistakes as lessons and move towards effective implementation of federalism.”

Chief Minister of Gandaki Province Krishna Chandra Nepali Pokharel said that the provincial governments should be made resourceful to strengthen federalism.
He said that the provincial governments would take the lead in the operation of potential industries.

Pokharel had pointed out that the Gorakhkali Rubber Industry was ready to be run by the provincial government and should be sensitive about the utilisation of the land of Bhrikuti Paper Factory.
Similarly, he also drew the attention of the Prime Minister and other stakeholders to move forward the Uttarganga Hydropower Project immediately.

According to Phuyal, this time the problems at the local level have been effectively understood as there is representation of special stakeholders of local development such as National Association of Rural Municipalities and District Coordination Committee.
“In the meeting, not only all the problems seen from the centre to the local level but also the opportunities were discussed intensively,” he said.

The meeting also discussed the status of implementation of the decisions taken by the previous 46th, 47th and 48th meetings and the reasons behind pending issues.
Dr. Phuyal informed that various committees have also been formed as per the method of resolving various problems by classifying them in the meeting.