9th April 2024, Kathmandu
At the 73rd Annual General Meeting of the Nepal Chamber of Commerce, President Rajendra Malla emphasized the urgent need for a robust budget to confront the country’s contracting economy.
President Rajendra Malla Calls for Bold Budget
Speaking passionately, President Malla asserted, “The forthcoming budget must be a game-changer, addressing the current economic challenges head-on.”
He highlighted the stagnant investment climate, with funds remaining idle in banks, stressing the imperative to ramp up capital expenditure.
Malla underscored the pressing need for sustainable economic growth, noting the influx of foreign aid as a temporary buffer.
73rd AGM NCC President Voice: Click Here
Addressing the concerning state of the domestic economy, Malla lamented its sluggish performance, with high trade deficits indicating a need for strategic intervention.
He called for proactive measures to attract foreign investment, harness natural resources efficiently, and foster collaborative efforts for economic rejuvenation.
Expressing concern over restrictive government policies hindering economic activity, Malla advocated for flexibility to stimulate revenue generation and economic momentum.
He reaffirmed the Chamber’s pivotal role in aligning private sector interests with governmental policies, emphasizing the need for cohesive economic strategies.
Malla highlighted the Chamber’s proactive initiatives, including organizing expos to invigorate economic activity, and urged the government to endorse and support such efforts.
He emphasized the importance of continuing concessional loans in agriculture to sustain livelihoods and stimulate rural economies.
President Malla’s impassioned plea at the Chamber’s AGM signals a call to action for bold fiscal measures and collaborative efforts to steer Nepal’s economy towards resilience and growth in the face of adversity.
