KATHMANDU: Deputy Prime Minister Narayan Kaji Shrestha assured on Friday that the weakening economy of the country would see improvement soon.

Inaugurating the 24th Flora Expo organized by Floriculture Association Nepal (FAN)  in Kathmandu on Friday, the Deputy Prime Minister said that the government has realized  a need to immediately take steps for economic improvement, has already done homework towards this end.

“The government will not let the economy suffer as such, we are serious on it and will make improvements soon,” he said, adding, “Government has already done homework for economic boost up, and we seek the cooperation and collaboration of all sectors in our initiations.”

Speaking on the occasion, senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry, Chandra Dhakal remarked that the private sector had assessed the situation and had been urging the government for timely measures.

He complained that the government had not taken enough measures on time.

“The private sector had already assumed such situation to take place. The issues we have raised do have long-term impacts on the country’s entire economy, not only on the private sector. But, the government did not implement them,” Dhakal said.

FAN informed that the floral business in Nepal has an investment worth over Rs 7 billion and has an annual transactions  of more than Rs 2.3 billion.

According to available data, flowers worth Rs 36 billion were imported from neighboring India in the previous fiscal year, 2021/22.

80 stalls, including 62 commercial stalls, three landscaping stalls, 10 official stalls, three competitive exhibition stalls and two food stalls are set up in the FAN expo.

The stalls have seasonal flowers, cut flower, dry flower, orchids, compost fertilizer, flower seeds, green house, agricultural implements, pesticides, packaging materials and related things.

Flower nurseries, supplier companies, commercial and various organizations as well as floriculture businesspersons from India and Bangladesh are participating in the Floriculture Fair.

The Association believes that the fair will be useful forum for marketing flower and related products, for gaining new skills and knowledge related to this sector, and for acquiring information on the market situation.

The theme of the fair which lasts till April 3 is – ‘Floriculture Business for Clean Environment and Economic Prosperity’.