Deliberate economic issues with Vice-President

The Nepal Chamber of Commerce (NCC) office-bearers called on Vice-President Ram Sahay Prasad Yadav and discussed various economic-related issues.

In the meeting held at the official residence of the Vice-President at Lainchaur in Kathmandu today, the visiting NCC team congratulated Yadav on his election to the post and extended best wishes for his successful tenure.

During the meeting, Vice-President Yadav expressed his concern over the current economic state in the country and remarked it was at risky situation at present.

He viewed that economic prosperity could be only achieved if sustainable solutions to the problems such as liquidity crunch, high interest rate, capital expenditure not being spent on time and unemployment are sought.

The VP observed, "It is necessary to seek sustainable solutions to the current economic issues and collaboration is needed between the government and private sector for the same."

He pledged to draw attention of the government agencies towards the recommendations furnished by the NCC. According to him, the government could not reap the returns of its investment for lack of factual date.

Furthermore, he called for private sector's support to the government in research and studies and spoke of the need to find out real data and analyze it before considering investment in socio-economic and industrial sector.

Similarly, NCC President Rajendra Malla urged VP Yadav to play a coordinating role for economic development and prosperity. Malla argued, "The economy is yet to pick up the pace for lack of effective implementation of the budget and monetary policy. The exorbitant interest rate has affected entrepreneurs and general borrowers."

He was of the view that the economic activities could regain normalcy due to capital expenditure not being spent properly. He also emphasized that the public service delivery should be swift and effective.

Furthermore, the leader of the NCC opined that time-bound system be applied in the offices such as Department of Inland Revenue, Department of Passport and Transport Offices among others.

---