Economic growth not possible sans private sector

Minister for Industry, Commerce, and Supplies, Damodar Bhandari, has insisted on the involvement and promotion of the private sector in the journey towards national prosperity.

While inaugurating the ninth AGM of the Nepal Printers’ Association Federation here today, the Minister ruled out the possibility of achieving economic growth without the private sector's role. He took time to highlight the need to come up with new action plans to resolve national issues seen in the economic sector.

Pledging to review laws relating to industries, the Minister said constant efforts were going on from the ministry level to operate industrial villages. The Minister stressed the need for industrial development in each area so as to enhance industrial contribution to the gross domestic product. It will eventually advance the country towards the targets set by the 15th periodic plan and the budget.

The preparations for formulating the start-up policy neared the final phase and through such policy, we set goals to encourage new and probable investors to see potentialities and opportunities in each sector and to create self-employment opportunities through the promotion of entrepreneurship, the Minister shared.

Minister Bhandari said the government was ready to cooperate with the Federation to address genuine demands of printing entrepreneurs coming intuitionally, seeking the Federation's role to expand domestic identity and find an international market for the printing business.

According to the Minister, the government had a policy to promote the printing industry assisted by modern technology compatible with time which promotes relevant skills, knowledge, and expertise.

Federation Chair Khom Kant Regmi spoke of the need to formulate a new act relating to the printing press, soft loans from financial institutions to printing industries, and operating government-run printing presses through a one-door system. He presented a charter of 19 demands before the government.