“Learning from Economic Crisis: Impact and Lessons” program held in Kathmandu

Kathmandu November 25- Former policymakers and experts have stressed on the need for urgent efforts to expand and intensify diplomatic engagement and diversify trade relationships with countries to mitigate the risks of over dependency on a single country.

Amid ongoing socio-economic crisis caused by an unofficial trade blockade imposed by India, they said Nepal needs to extend its connectivity with the north as a long-term strategy so that such a situation does not repeat. The India-imposed blockade, for more than two months now, has shattered the economy with the government predicting a negative growth rate of 0.9 percent for this fiscal year. “Nepal needs to diversify its trade relations with other countries to meet the energy and food needs,” said former National Planning Commission Vice Chairman Shankar Prasad Sharma at a program on “Learning from Economic Crisis: Impact and Lessons” organized by Nepal Economic Forum here on Tuesday. Source: TKP

Along with NPC Vice Chairman Shankar Prasad Sharma, Former Commerce Secretary Purushottam Ojha and  Former Nepalese Young Entrepreneurs Forum (NYEF) President Ajay Pradhananga also gave similar views of expanding trade relation with other countries and  need of increase in  investment in agriculture to become self reliant in food in the program.