Country will witness economic growth, says NPC vice chair

KATHMANDU, MAR 31: 

The country will witness economic growth this year due to good agriculture production, according to the vice chair of the national think tank.

“This year the country will see growth as projected,” said vice chair of National Planning Commission (NPC) Deependra Bahadur Kshetry here today while addressing he employees union of the central bank.

The increased agriculture production will help push economic growth this year as compared to past years, he said, adding that the government has been focusing on encouraging investment and attracting foreign direct investment through the Investment Board. “The Investment Board has been formed to facilitate investments,” he added.

He also asked the employees to perform their duties with honesty. “Many government corporations have failed due to mismanagement,” he opined, citing an example of Janakpur Cigarette Factory which was once the largest revenue payer to the government coffers but is now non-operational. “ It has become a financial burden to the government at present.”

Similarly, he was also concerned over the high lending rates of banks and financial institutions that have contracted the borrowing capacity of the private sector despite the surplus liquidity in the banks. Governor Dr Yubaraj Khatiwada, on the occasion, claimed that the financial sector has improved in recent times.