Tuesday, 6 December, 2022

PM pledges to work with private sector


By A Staff Reporter
Kathmandu, July 21: Prime Minister Sher Bahadur Deuba on Tuesday said that the government was ready to work with the private sector to revive the economy battered by COVID-19.
During a meeting with the representatives of the Nepal Chamber of Commerce (NCC), Prime Minister Deuba said that the challenges facing the economy can be addressed only through the cooperation between the government and the private sector.
Stating that sufficient quantity of vaccines will be available in the near future, the Prime Minister said that the demand of private sector to provide vaccines to the entrepreneurs and workers in priority will be addressed.
He said that the government would address the NCC’s suggestions for the revival of national economy.
The team of the NCC led by its president Rajendra Malla congratulated the Prime Minister and submitted the suggestion for the revival of national economy.
The NCC has demanded that the private sector should be vaccinated with priority as the private sector has an important role to accelerate the country’s economy.
NCC President Malla urged the government to provide at least 10 per cent of the total availability of COVID-19 vaccines to all industrialists, businessmen and workers as it would contribute to the economy by expediting economic development and employment.
He also suggested the Prime Minister to manage relief package equal to 5 per cent of the country’s Gross Domestic Products (GDP) to revive the COVID-19 affected economy.
Similarly, the NCC has demanded that the interest rate should be limited to around 7-8 per cent to make the economy competitive and expand the economic activities. In case of sick industries, the interest rate should be at around 3-5 per cent, it said.
It has also suggested the government to increase the capital expenditure making a time table as pace of capital expenditure was low.
The NCC suggested the Prime Minister to give special priority to the utilisation of remittance in the productive sector and introduce various programmes to create jobs to those who lost jobs abroad.