Finance Minister Janardan Sharma said import and remittance merely could not generate adequate resources to run the country.
In his address to the fifth district conference of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chitwan chapter here today, Minister Sharma said revenue generated through domestic production was however crucial for the country to progress.
The country is mostly relying on import and remittance now for operations, he said, adding, “Our country cannot operate depending on the customs-based revenue. We should develop a system to operate the country being based on the income generated through domestic production”.
The Minister stressed the need of production-oriented economy in the country. Establishment and operation of industry and enterprises in villages was indispensable so as to stabilize the country’s economy, he added.
“Imparting training to workforce is a primary need to encourage them to adopt entrepreneurships and incentivize to stay at home land”, he further noted. It is the production that can only make the country self-reliant, he said, expressing readiness on part of the State to spur investment to that end.
He also underscored the present need of discouraging import through public private partnership for investment and boosting export. Minister Sharma further said the global price hike and ongoing wars have the direct bearing on Nepal’s economy as well.
“Current inflation and ongoing wars are not in a position to stop now. These phenomena have direct impact on our country”, he explained. He also claimed that the government has come up with a policy to boost economic development and production.
On a different note, he said the current coalition of the political parties was formed due to the specific circumstances of the country and the politics. Sharma said there was no option but to propel collaboration among the coalition partners.
“The coalition should take pace. If the coalition prevails for long, it would bring political stability and development”. He shared that discussions are being held among the parties to make coalition a success.
The convention held under the premiership of FNCCI Chitwan Chair Dayaram Dawadi elected a 22-member new working committee led by Bishnu Prasad Poudel.