Faltering business sector has much to do
with fragile politics, admits Nepal PM

Kathmandu: Prime Minister Madhav Kumar Nepal has on Sunday admitted that the country’s fragile political situation is also casting blight on the industrial and business sector. While speaking at a function held by the Nepal Chambers of Commerce (NCC) in the capital on the occasion of its 57th annual general meeting, PM Nepal said, "As the country is passing through transition period, the industrial and business sector too is reeling under its yoke."

He, however, claimed that the current government is making utmost endeavours to propel the country into the proper direction.

"We are on the verge of making various decisions to create conducive atmosphere for smooth functioning of the industrial and business sector as well as to bolster its competitive edge," PM Nepal stated adding, "The cabinet will soon unveil new industrial policy as well as IT (Information and Technology) policy."

According to PM Nepal, his administration is also working towards materialising the concept of Investment Board as per the demands of industrialists and businessmen.
PM Nepal also remarked that the government will soon mobilise Armed Police Force (APF) to ensure industrial security. Referring to the problems affecting the financial sector, he mentioned, "Nepal Rastra Bank (NRB) will also adopt concrete measures vis-à-vis monetary sector to address the prevalent liquidity crisis besetting the banking system and other anomalies in interest rates." (nepalnews)