Friday Mar 29, 2024
Friday Mar 29, 2024

PM Deuba instructs to work to reduce trade deficit


Nepalnews
RSS
2022 Mar 23, 8:57, Kathmandu
Photo: RSS

Prime Minister Sher Bahadur Deuba has directed all concerned authorities to formulate policies and programmes to keep the country's economic condition in balance and to reduce the trade deficit.

PM Deuba instructed so at a ministerial meeting of the Development Issues Resolution Committee under the Ministry of Industry, Commerce and Supplies convened at the official residence of Prime Minister at Baluwatar today.

Expressing concern over the increasing trade deficit, the PM said, "Our trade deficit is in an alarming state!" Deuba also directed to move ahead to make the national economy self-reliant and to increase investment in potential areas. He also instructed to prioritize the production of domestic products.

According to him, the trade deficit could be reduced by increasing the utility of electricity. "We should formulate policies that promote usage of electric vehicle and cooking stoves," he said.

Stating that water was the most potent resource for Nepal, the Head of the Government viewed that we have to increase electricity consumption to reduce huge money being spent on the import of petroleum products.

The review meeting was attended by representatives from the Ministry of Industry, Commerce and Supplies, National Planning Commission, Ministry of Finance, Ministry of General Administration and Federal Affairs among others.

READ ALSO:

Nepali Prime Minister Sher Bahadur Deuba economy Reduce trade deficit Ministry of Industry domestic products NepalNews
Nepal's First Online News Portal
Published by Nepalnews Pvt Ltd
Editor: Raju Silwal
Information Department Registration No. 1505 / 076-77

Contact

KMC-02, UttarDhoka,
Lazimpat, Nepal

Newsroom
+977–01–4445751 / 4445754

E-mail
[email protected] [email protected]

Terms of Use Disclaimer
© NepalNews. 2021 All rights reserved. | Nepal's First News Portal