Friday Aug 19, 2022
Friday Aug 19, 2022

Rising demand for foreign currency has put pressure on national economy: PM Deuba

Prime Minister Sher Bahadur Prime Minister Deuba has said that the country cannot develop without the development of small, cottage and small scale industries


Nepalnews
RSS
2022 Mar 11, 7:29, Kathmandu
File Photo: Prime Minister Sher Bahadur Deuba at the Literate Gandaki State Declaration Program held in Pokhara on Sunday, 10 October, 2021. Photo: RSS

Prime Minister Deuba has said that the country cannot develop without the development of small, cottage and small scale industries. Inaugurating the 25th National General Convention of the Federation of Nepalese Small and Household Industries and the 22nd National Conference of the Central Women Entrepreneurs Committee today, she said that He said that it was necessary.


Prime Minister Deuba said that the import of consumer goods and services from abroad has greatly increased the demand for foreign exchange and this has created great pressure on the national economy. He was of the view that the Government of Nepal was committed to promoting the private sector as there was no alternative to increasing domestic production to meet the rising demand for foreign exchange and trade deficit.

Currency traders watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, February 26, 2021. Asian shares skidded Friday after rising bond yields triggered a broad sell-off on Wall Street that erased the markets gain for the week and handed the Nasdaq composite index its steepest loss since October. (Photo via AP)
Currency traders watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, February 26, 2021. Asian shares skidded Friday after rising bond yields triggered a broad sell-off on Wall Street that erased the markets gain for the week and handed the Nasdaq composite index its steepest loss since October. (Photo via AP)

Prime Minister Deuba informed that the government is committed to uplift the small, cottage and small scale industries which are facing the negative impact of COVID-19. He said that sustainable development and prosperity was the main goal of the government and development of the private sector was essential to achieve this goal.


In the inaugural session chaired by Shyam Prasad Giri, president of the Federation of Nepalese Small and Household Industries, Minister for Drinking Water and Energy Development of Madhes, Omprakash Sharma, Nepali Congress central member Umakanta Chaudhary and Birgunj Municipal Corporation chief Vijay Kumar Saravgi expressed the view that the bank's discrimination against small entrepreneurs was hampering entrepreneurship development.


426 delegates from all over the country are participating in the 25th National General Convention of the Federation of Nepalese Small and Household Industries and 252 delegates from all over the country are participating in the 22nd National Conference of Central Women Entrepreneurs Committee. According to the organizers, separate closed sessions of both the organizations will be held on March 10 and 11 and new policies will be selected from the closed sessions.

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Prime Minister Sher Bahadur Deuba Cottage Industry private sector Foreign currency
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