Chief Economic Advisor to the Prime Minister, Dr. Chiranjivi Nepal has said the contribution of private sector in the economic development is important.
Speaking at a program organised by the Media International to honour the newly elected officials of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) in the capital on Thursday, he urged the private sector to increase investment remarkably, as the government is in favour of the private sector.
Although Nepal had adopted open market economic policy, economic development was affected as it was not revamped timely, he said.
Nepal also cautioned on the situation of increasing trade deficit lately.
FNCCI's newly elected chairman, Pradeep Jung Pandey said although there was division panel-wise, FNCCI will move ahead united in the days ahead.
Senior vice chairman of FNCCI, Pashupati Murarka informed that some 22 bills are in the process of being approved from the parliament and that the FNCCI had started discussions on issues to be included in the next budget.