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| Kathmandu Monday April 01, 2002 Chaitra 19, 2058. |
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‘Pvt sector should
play lead role to benefit from globalisation’
Post Report
KATHMANDU, March 31:Prime Minister Sher Bahadur
Deuba today said that Nepal would not be able to develop itself by remaining aloof from
the global market system and the private sector must play a dominant role in harnessing
the benefits of the liberalised global economy.
He also said that the government would
continue to play a role of a facilitator in promoting the private sector as the
‘engine of growth’ as real development cannot take place until and unless the
private sector is strong and capable.
"Keeping in view the changes that are
taking place in the global market, the government has adopted open market policies to
promote the private sector’s participation in attaining high economic growth
rate," said premier Deuba.
Prime Minister Deuba was speaking at the
inaugural session of 49th annual general meeting (AGM) of Nepal Chamber of Commerce (NCC)
today. On the occasion, he urged upon all concerned parties to make collective efforts to
face the current crisis.
The Prime Minister also said that businesses
must prepare themselves for Nepal’s entry into the World Trade Organisation (WTO)
with a view to utilising the opportunities and overcoming the challenges brought about by
the multilateral trading system.
Finance Minister Dr Ram Sharan Mahat assured
that despite the crisis the economic condition is still under control. He also said that
the economic indicators are not too bad.
Dr Mahat also lauded the role played by the
private sector in the last decade. "The private sector has grown strongly ever since
the government adopted liberal market policies. Manufacturing, services and trade all have
grown satisfactorily," he said.
However, stating that economic growth and
stability has slackened in recent times, the finance minister put the major blame for the
current state of economy on terrorist activities.
Highlighting the role played by the
government, Dr Mahat said that multiple measures to create a conducive environment to the
promotion of the private sector were announced last year. He said that the government in
this regard has completed formulation of necessary legal framework.
He also came down heavily upon the business
community for widespread corruption. "The private sector first must be capable of
taking benefits from the facilities given by the government. It must also stop making
under-the-table payments to get things done in its interests."
"The need of the hour in the context of
a global economy is sincerity, competitiveness and transparency," Dr Mahat
underlined.
Similarly, Minister for Industry, Commerce
and Supplies Purna Bahadur Khadka said the government and the private sector must go hand
in hand to counter the challenges that the economy is currently facing due to the
heightened Maoist insurgency.
He also said that the problems faced by the
economy could be solved only through political means and by sincerely implementing the
host of policies that have been announced.
President of the Federation of Nepalese
Chambers of Commerce and Industry (FNCCI) Rabi Bhakta Shrestha said all concerned should
play a role in rescuing the country from the current crisis.
"All political parties should join hands
at this crucial hour to rescue the country out of crisis," he said. He also lambasted
the frequent bandhs and strikes.
President of the NCC Rajesh Kaji Shrestha
stated that slump in exports and manufacturing, and decline in foreign exchange earnings
due to slackness in a number of sectors is a matter of serious concern.
Stating that a number of manufacturing and
service industries are on the brink of collapse, he said that the government must enforce
its announced measures to revive and restructure sick industries. He also lamented at the
ineffective implementation of policies that have hindered the promotion of the domestic
products.
Shrestha also stressed that timely changes
are required in labour-related Act and policies and in the Industrial Policy to do away
with impractical provisions in order to attract foreign investment.
Premier Deuba also released the NCC’s Souvenir and
felicitated Peoples Campus and Kanya Campus for scoring the highest marks in the
management faculty. He also gave away awards to largest exporters of garments, carpets,
pashmina and handicraft items.
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