NPC plans joint panel to help boost exports

KATHMANDU, JAN 22 -

National Planning Commission (NPC) plans to propose the formation of a joint committee including officials from the Ministry of Industry and Commerce and Agriculture Ministries to take joint initiative for boosting exports.

The country’s export decreased 1.2 percent to Rs 36.91 billion during the first five months of the current fiscal year while import surged 17.8 percent to Rs 318.5 billion during the same period, according to the Nepal Rastra Bank (NRB). Nepal’s export performance has been disappointing over the last several years and measures like cash incentives to exporters have failed to yield desired results.

In the last fiscal year, the country’s exports touched Rs 90 billion, and the government has targeted to boost the figure to Rs 100 billion this fiscal, but declining export figures have been a worrying factor.

“Considering the massive trade deficit the country is facing, we felt the necessity to take joint initiative from these ministries,” said an NPC official. “Although the Commerce Ministry is the frontline agency responsible to help boost exports, other related ministries can also join hands.”

Although the NPC planned to propose the formation of such a committee at the National Development Action Committee 11 days ago, the meeting could not take place after Prime Minister Sushil Koirala could not arrange time citing his busy schedule.

Meanwhile, the NPC also plans to propose that road projects would not be allowed to be blacktop without ensuring a certain width and drainage.

Source: The Kathmandu Post