Economic indicators gradually improving: PM Dahal

Kathmandu- Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said the country’s economic indicators are on a positive trajectory due to the consistent efforts. Making a statement prior to seeking a vote of confidence in the House of Representatives today, he said he has been continuously working since the beginning for improving the economy and made it clear that most of the economic indicators have improved in the latest situation.

“The balance of payment is in reserve by 297 billion and 720 million in the seven months’ period of the current fiscal year. The foreign exchange reserve has increased by 19.9 percent and reached nearly equivalent to Rs 1 trillion and 845 billion,” the PM said, adding that the trade deficit has reduced by 1.8 percent. He further said the inflation has been limited to 5.1 percent in the seven months’ period and the loan disbursement has increased by 4.7 percent.

“It is not that the government cannot interpret the existing economic condition as a big achievement, but the expected progress has not been made in the domestic production and employment generation. Similarly, capital expenditure has also not been increased as expected. It is necessary to give extra impetus to the projects of national pride and priority, to increase the capital expenditure and to further improve in public service delivery,” the PM pointed out on the occasion.

He made it clear that making the administration mechanism efficient, removing the procedural obstacles and creating an environment conducive for fully harnessing the capacity of the private sector were his first priority. ‘We are close to power trade agreement with Bangladesh’ Prime Minister Dahal announced on the occasion that a tri-nation electricity trade agreement would be signed for exporting up to 40 megawatts power from Nepal to Bangladesh.

He asserted that Nepal has reached close to electricity trade not only with India but with Bangladesh as well. “The door for electricity trade is opening towards China as well. This is also not a small achievement, but we need to carry out great deal of works in electricity infrastructure development to achieve this possibility,” the PM observed. Stating that Nepal has now made its presence in the world forum on the concept of climate justice and equality, he recalled that the visit of the UN Secretary-General Antonio Guterres to Nepal and Nepal’s presentation in the COP-28 held in Dubai, UAE have sent new message to that connection.

“We have given the message that now Nepal will give leadership to the voice of mountain nations affected by climate crisis,” he said, expressing that the list of government’s achievement is not short, but these achievements were not adequate to fulfill the country’s needs and possibilities.