Friday, March 30, 2012

Country to see economic growth: Kshetry

The country will see economic growth due to good agriculture production this year, according to the vice chair of the national think tank.
"This year the country will see growth as projected," said vice chair of the National Planning Commission (NPC) Deependra Bahadur Kshetry here today addressing the employees union of the central bank.
The increased agriculture production will push the economic growth this year compared to past years, he said, adding that the government has been focusing on encouraging investment and attracting foreign direct investment through Investment Board. "The Investment Board has been formed to create to facilitate investments," Kshetry added.
He also suggested the employees to work honestly for the institution they are with. "The mismanagement has led the government corporations to failures," he opined, citing an example of Janakpur Cigarette Factory that was once the largest revenue payer to the government coffer but is non-operational now. "They are financially burden to the government right now."
Similarly, he also showed concern over the higher lending rates of the banks and financial institutions that have contracted the private sector borrowing capacity despite liquidity surplus in the banks.
Central bank governor Dr Yub Raj Khatiwad, on the occasion, claimed that the financial sector has improved in recent times.


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