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Bandages don't boost economy when surgery is needed: Chairman Agarwal
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Rajesh Kumar Agarwal, President of Nepal Industry Confederation, has said that the government is trying to revive the lax economy from a band-aid when there is a need for major surgery to reform the troubled economy. Speaking at the 21st Annual General Meeting of the Confederation on Tuesday, Chairman Agarwal warned that the malampattiwala thinking would not boost the economy but lead to further crisis.
Prime Minister Pushpa Kamal Dahal along with Industry, Commerce and Supply Minister Damodar Bhandari attended the event. Confederation President Agarwal said that the country cannot achieve prosperity in the absence of hard-working industrialists. "It is the state's responsibility to protect, encourage and respect industrialists," he said, "the goal of prosperity cannot be achieved by demoralizing and humiliating industrialists."
Agarwal said that indigenous investment should be promoted, investors should be encouraged and respected. He said that only if domestic investment increases, foreign investors will also look at Nepal. Recently, Agarwal objected to the growing practice of detaining industrialists and trying to hear them based on simple complaints. "Such a situation is happening not only in the private sector, but also in the bureaucracy and political leadership," he said, "bargaining in the name of arrest, dehumanizing and trying to establish evil in the public mind are being done." That's why the Nepal Industry Confederation has requested to arrange advance bail.'
Due to the high contraction in the overall demand due to the existing economic recession, he informed that another pain has been added as the producers are not able to raise loans while they are in trouble. He has requested to make necessary arrangements to protect the payment. He said that although the confederation has been giving suggestions to the government and regulatory bodies by identifying priority areas to make the economy dynamic, it is sad that those suggestions have not been implemented. We gave clear suggestions for immediate and long-term work in the areas,' he said, 'but those suggestions have not yet been implemented.' He expressed concern . Confederation President Agarwal's analysis was that due to lack of encouragement for industry in the country, employment opportunities have not been created here. "There is an increase in migration of young people abroad due to lack of employment," he said.
