Govt-private sector cooperation fosters economy: Finance Minister

Kathmandu / April 28: Finance Minister Janardan Sharma has underscored the need to boost government-private sector cooperation so that economic development could be realized.

“Significant portion of the national economy is sustained by the private sector. Government is only the facilitator. Seventy percent of the entire economy hinges on private sectors,” he noted.

According to him, the government was committed to creating an industry-friendly environment. Minister Sharma expressed such views during a meeting with representatives of the Nepal Chamber of Commerce. The Chamber officer bearers held talks with Finance Minister on Thursday in connection with the homework for the upcoming budget.

On the occasion, Chamber Chair Rajendra Malla viewed the import should be well managed for the balance of payment. The import of industrial raw materials and daily consumable items should be managed in a way it would wipe out the shortage of things.

The Chamber officials complained that export was not promoted because there was no facilitation in the export process. Malla viewed, “If a laboratory of international standard is set up at major customs, it helps to create the atmosphere favourable for import of quality goods,” he argued.

According to Chairperson Malla, the maximum import of petroleum products was the reason behind ballooning trade loss. He also suggested that the realty business must be brought under the tax system.

The Chamber officials also suggested the Finance Minister to legalize marijuana. RSS