Confederation President Pandey suggested that the government should pay special attention in the immediate, medium and long term to achieve the good governance and high economic growth desired by the general Nepali people.
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The Confederation of Nepalese Industries (CNI) and Finance Minister Swarnim Wagle have met. A team led by CNI President Birendra Raj Pandey has discussed the current problems of the economy and solutions in the meeting with the Finance Minister.
CNI President Pandey suggested that the government should pay special attention to the immediate, medium and long-term to achieve the expectations of good governance and high economic growth desired by the general Nepali people. While assuming the charge of the Finance Minister, Minister Wagle welcomed the second phase of economic reforms and the commitment to repeal irrelevant and very old laws and expressed confidence that the government would clearly focus on the overall economy and reform from the upcoming budget.
He suggested that the government should adopt a policy to encourage manufacturing industries to create employment, achieve high economic growth and replace imports. He emphasized the need to break the narrative that making money is a crime.
He said that the government should also play a positive role in creating a narrative that legally acquiring wealth and making money is not a crime. He also emphasized that in the current situation where market demand is not increasing, a policy should be adopted to increase overall demand.
The Confederation is studying how the current economy of about 45 billion dollars can be made into 100 billion dollars within the next 10 years and will soon submit a report to the government.
Finance Minister Wagle said that he has come to the Finance Ministry to turn the economy that is in the right direction. He said that the government will look at import-substituting manufacturing industries differently because foreign investment will come only when Nepal's private sector is excited. 'The political stability sought by the private sector has been achieved and this government will take the initiative to achieve economic prosperity by maintaining policy stability,' he said, 'We will encourage a liberal economy and create a private sector-friendly economic environment, but we will not be allowed to be loose in the name of liberality.'
Finance Secretary Ghanshyam Upadhyay requested suggestions on the provisions of the laws that have made it difficult to facilitate investment and the arrangements that need to be made.
