Premier urges private sector to submit proposals for revitalising sick industries

KATHMANDU, FEBRUARY 11: Prime Minister KP Sharma Oli has urged the private sector to come up with concrete proposals to reopen sick industries through a partnership model.

In a meeting of the Industry-Commerce Promotion Dialogue Council held today at the Prime Minister’s Office, he said that the government is ready to partner with the private sector, and urged them to submit concrete proposals for the reopening of industries at the earliest.

The Prime Minister also mentioned that laws and regulations related to the sector will be facilitated and amended as needed, and emphasized that the government is keen to support the private sector for economic prosperity.

He directed the concerned authorities to take stringent action against irregularities in customs and revenue, stressing that development does not happen merely through capital, but requires a focus on the nation's development to generate wealth.

Council members offered suggestions on areas such as co-investment and collaboration in public-private partnerships, increasing the use of domestic products in public institutions, reducing the trade deficit, implementing ordinances, and swiftly completing construction businesses and projects.

In accordance with the decision made by the Cabinet on September 21, 2018, the Prime Minister has been authorized to appoint members from national organizations and business representatives to the council, which was formed to facilitate regular dialogue between the public and private sectors for economic development. The meeting was held after the council was fully formed.

The meeting informed about the government's efforts in economic and administrative reforms, amendments to 29 laws through ordinances, their positive effects, progress in development construction, and initiatives for facilitating startups and business. The meeting also decided to form committees under the council to address issues in sectors such as production, infrastructure, exports, and governance. These committees will discuss sector-specific problems and solutions and provide recommendations to the council.

The meeting was attended by Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Minister of Culture, Tourism, and Civil Aviation Badri Prasad Pandey, Minister of Industry Damodar Bhandari, Vice Chair of the National Planning Commission Dr. Shivraj Adhikari, Chief Advisor to the Prime Minister Bishnu Prasad Rimala, Economic Development Advisor Dr. Yubaraj Khatiwada, Chief Secretary Ek Narayan Aryal, among others.