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Industry, Commerce and Supply Minister Damodar Bhandari has said that the labor force cannot be organized unless the capital market is functioning.
He said this while addressing the labor and employment conference held in Kathmandu on Monday. He said that the productivity of the agriculture-based economy, which accounts for 13 percent of the national product, has decreased to 5 percent.
He said, "Until Nepal's capital market is functioning, Nepal's labor force cannot be managed". Therefore, the first thing is that the presence of the private sector in Nepal's capital market today is related to industry and trade. Today's trade imbalance was also discussed. If we do not increase our trade, the productive productivity cannot increase . We are importing items. Our area of potential Agriculture based economy Today in Nepal Industry GDP Yesterday, the contribution was 13 percent, but today it has decreased to five percent.'
He said that it is difficult and risky to invest in the industry and the industries such as Pashmina, Garment, Carpet established as a brand of Nepal have been closed recently. He said that the reasons for the failure of jute mills and other institutions invested by neighboring countries should be found.
He said, 'It is difficult and risky to operate the industry . The same risk our legacies of yesterday Industries such as pashmina, carpets and garments, jute mills, which were established as brands of Nepal, were closed . Various institutions invested by neighboring countries collapsed. We need to find the reason why this happened.'
Minister Mandari said that the government's policy reform regarding industry and entrepreneurship has given rise to hope. He said that the issue of guaranteeing employment and encouraging enterprise and entrepreneurship will be included in the next financial year's budget. He claimed that the private sector has welcomed the policy reforms made by the government to change the hopelessness of the youth due to unemployment.
He said, "Today's government's policy reforms regarding today's industry and entrepreneurship have been welcomed by the private sector." Today it has created a new momentum. A better reflection of that will be reflected in the budget of the next financial year. Where employment is guaranteed, industrial entrepreneurship is linked, encouraging it, and many of today's political responsibilities must be met. The existing frustration has to be broken . That disappointment will have to be changed into hope.'
Minister Bhandari said that the problem of domestic employment can be solved if Nepal's production and employment are connected with Nepal's capital market, labor market.
