Stakeholders should join hand to achieve better growth: FinMin

KATHMANDU:

Finance Minister Ram Sharan Mahat has called upon the private sector to join hands with the government for boosting economic growth.

Speaking at the 9th Annual General Meeting (AGM) of Nepal Carpet Entrepreneurs´ Association (NCEA) here on Friday, Minister Mahat said stakeholders should join hand to achieve better economic growth as the industrial sector has slowed down over the past few years. Saying that the contribution of manufacturing sector in GDP has come down by four to six percent, Mahat said: “There is an urgent need to forge consensus between government and private sector to enhance industrial growth.”

Meanwhile, Mahat also assured the entrepreneurs that the government would address genuine problems that were hindering the growth of the country´s carpet industry. “Nepali carpet has remained one of the major exportable commodities of the country.

 The government is committed to work with the entrepreneurs increase carpet exports,” he added.
Speaking on the occasion Anup Bahadur Malla, president of NCEA, urged the government to provide subsidy in different headings to the carpet sector so that domestic products can be made competitive in the international market. “Due to high production cost, our products are comparatively expensive than Indian carpets,” Malla said, adding, “We can make our products competitive by once we get government subsidy.”

Addressing the program, Pradeep Jung Pandey, vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), opined that government should revise the existing Labor Act and make it industry-friendly.

Source: Republica