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Wednesday Aug 17, 2022

Making policies and programs to reduce trade deficit: PM

Prime Minister has instructed all concerned to formulate policies and programs to keep the economic situation in balance and reduce the trade deficit


Nepalnews
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2022 Mar 22, 17:56, Kathmandu

Prime Minister Sher Bahadur Deuba has instructed all concerned to formulate policies and programs to keep the economic situation in balance and reduce the trade deficit.

The directive was given by Prime Minister Deuba at a meeting of the Ministry-level Development Problem Solving Committee of the Ministry of Industry, Commerce, and Supplies held at the PM's residence in Baluwatatar. Giving instructions at the meeting, Prime Minister Deuba said, "Our trade deficit is in a worrying state. Now you have to come up with policies and programs to reduce the trade deficit."

Prime Minister Deuba also directed to move ahead to make the economy self-reliant and increase investment in potential areas. He also directed the ministry and all its subordinate government offices to formulate policies to encourage indigenous production. Stating that the consumption of electricity should be increased to reduce the trade deficit, Prime Minister Deuba drew the attention of all the concerned officials to put forward policies to increase the use of electric vehicles as well as electric stoves. Prime Minister Deuba said, "Our most promising sector is water resources. Now we have to use electric vehicles and increase electricity consumption to reduce the huge amount of money spent on petroleum products."

Representatives of the Ministry of Industry, Commerce, and Supplies as well as the National Planning Commission, Ministry of Finance, Ministry of General Administration, and Ministry of Federal Affairs also participated in the review program.

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