Finance Minister Sharma urges to make dry port a centre for export

Finance Minister Janardan Sharma underlined the urgency of making resolution to develop the dry port as an export centre.

The remittance and import-based economy is risky for Nepal, Minister Sharma said, stressing the dry port should be developed a centre point for exporting goods.

At a programme organized following the inauguration of the dry port by Prime Minister Sher Bahadur Deuba today, Finance Minister Sharma said the dry port should be strategically used to increase export of food items and agro-based goods.

The Finance Minister also highlighted the need of moving towards independence by converting labour and natural resources into capital.

He further expressed the readiness on part of the government to collaborate with private sector and cooperatives for the same.

Presenting the data related to import and export on the occasion, he said the foreign import has been estimated to be Rs 1,308 billion as of mid March 2022 and this has increased by 38 per cent in caparison to the last year.

He further shared the country has made an export of Rs 147 billion in the last eight months which is a slight progress that it was in the previous year.

Mere contribution of 10 percent to a total volume of foreign trade was nominal, the minister shared, adding COVID-19 pandemic followed by Russia-Ukraine war have added serious challenges to the country's economy.

As of mid-March, the country's reserve amounted to Rs 940 billion, he said, adding the reserve is enough to manage import of goods for at least six months.

The ministry has placed certain precautionary measures to check possible emergence of challenges, Minister Sharma added.