Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said a gradual economic improvement has encouraged the private sector.

In his address to a program entitled ‘Arghakhanchi Tourism Promotion Programme for Economic Development, Tourism Promotion, and Local Employment” organized by the Federation of Nepali Journalists (FNJ), Arghakhanchi chapter at Sandhikharka on Monday, the Prime Minister said the economic crisis till last year led to the shrinking of public business fairs and festivals. “The resurgence of such events is seen as a positive sign of economic improvement.’

During his address, he said the World Bank and other international financial institutions have also acknowledged improvements in Nepal’s economic indicators. He urged the business community to work with confidence.

According to him, ministers have been urged to strive for the best, adding that those who fail to meet performance standards will be relieved of their posts.
Reflecting on his past experiences trekking along the Siddhara-Jaluke region in Arghakhanchi during the People’s War, he said the government is positive about the touristic development in the district.

He also commended the unity and cooperation he observed among local political parties for the development of the district. The PM further added, ‘The support of the federal government will be there for the construction of projects of strategic importance, including the Gachchhe-Bhaluwang road as well as managing the required budget for the construction of the Gorusinge-Sandhikharka road. The federal government will pay attention to the development of Sandhikharka-Sheetaganga and Bhumikasthan municipalities and of Malarani-Chhatradev and Panini rural municipalities.’

Making it clear that the present government under his leadership is putting in maximum efforts to make the economy vibrant, he said, ‘The economy was in a very weak condition when I assumed the leadership of the government. There was much doubt the hung parliament formed after the election would give political stability, but the existing challenges facing the country and the people are in the process of being addressed through unrelenting efforts over the last year.’

The Prime Minister said the foreign currency reserve has improved, tourist arrivals have increased, the bank interest rate has been reduced, the problems related to cooperatives and microfinances have been addressed, the balance of payments and remittances have increased, and the sluggish industry and business sector have gradually started to rebound.

Stating that international organizations, including the World Bank, have stated that Nepal’s economy is gradually improving and projected more progress in 2024, PM Dahal said works have been carried out to attain social justice, good governance, and prosperity in the one-year period.

On a different note, the Prime Minister maintained that progress has been made in the international relations and diplomatic arena, referring to his visits to China, India, the World Food Summit, the United Nations General Assembly, COP28, and UN Secretary-General Antonio Gutteres’ visit to Nepal. He expressed confidence that the country’s international image has been enhanced by these visits and the statement he will be making at the Non-Aligned Movement (NAM) countries’ summit being organized this week in Uganda.

Present on the occasion were Minister of State for Tourism Sushila Shreepali, former Deputy Speaker Pushpa Bhusal, former Minister for Energy Pampha Bhusal, Province Assembly member Ramji Ghimire, Federation of Nepali Journalists (FNJ) central president Bipul Pokhrel, and the chiefs and deputy-chiefs of all the local levels.