PM claims government poised for double-digit economic growth

KATHMANDU – Prime Minister KP Sharma Oli has claimed that the government is going to achieve a double-digit economic growth in the first quarter of the next fiscal year.
Receiving a proposal submitted by Nepal Chamber of Commerce (NCC) at his official residence in Baluwatar on Thursday, PM Oli said the 6.9 percent economic growth rate of fiscal year 2016/17 would be increased to hit a double-digit growth rate to pursue the journey to prosperity.
The Chamber has submitting the proposal emphasized on the need of making the next decade as the ‘decade of double-digit economic growth’.
NCC president Rajesh Kazi Shrestha, on the occasion, said that the proposal, submitted to the Prime Minister on behalf of the private sector, calls for the overall economic development of the country. He also stressed on collaboration between the private sector and the government for achieving the overall economic development.
The proposal contains recommendations on the development of the agriculture, energy and the tourism sectors among others. It also includes suggestions related to guaranteeing the rule of law and promotion of industrial development and foreign investment, revenue, share market, transportation, communication and infrastructure development and importation of petroleum products etc.
Noting that too many public holidays has had a negative impact on the economy, the NCC also suggested to make public holiday based on a specific community according to their respective festivals.
The NCC has also urged the government to make the Acts related to the economic sector more accommodative and also to resolve the challenges of federalism, foreign trade and the banking sector problems.
Finance Minister Dr Yubaraj Khatiwada, on the occasion, made it clear that they would move ahead for achieving the economic prosperity by also taking the private sector into confidence. RSS