KATHMANDU: Finance Minister Dr. Prakash Sharan Mahat emphasized that agriculture serves as a fundamental pillar of economic transformation.
He noted that before the establishment of democracy (loktantra), political debates took center stage, but with the new constitution, the focus shifted to economic issues.
Minister Mahat expressed these views at a seminar on ‘Bases of Economic Transformation in Nepal: Good Governance, Energy, Agriculture, Tourism, and Labor and Employment,’ organized by the BP Thoughts Foundation in Kathmandu on Saturday.
Highlighting the significance of agriculture, he stressed that it deserves result-oriented investment for the economic transformation of Nepal.
The Finance Minister underscored the role of self-reliant agriculture in propelling the national economy, emphasizing that modernizing agriculture through technology adoption can lead to increased production.
He added that identifying geographically suitable crops is essential for the success of modern agriculture.
While agriculture is a crucial aspect, Minister Mahat also identified energy, tourism, and technology as other pillars essential for ensuring economic prosperity.
In the context of democratic socialism, he suggested promoting private sectors as leaders in production, with the government focusing on ensuring just distribution. The government’s role, according to him, should be to facilitate and reinforce the private sector.
Dr. Badri Bastakoti, an expert on agriculture value chains, highlighted the importance of irrigation, commercialization of agriculture, and guaranteeing investment to elevate the status of Nepal’s agriculture.
He stressed that despite changes in agriculture compared to the past, more collective efforts from all three tiers of government are necessary for expected results in the agricultural system.
Dr. Bhanu Bhakta Sigdel, former chair of Nepal Farmers’ Association, suggested adhering to BP’s ideology of socialism with agriculture as its foundation.
He emphasized the need to increase investment in the agriculture sector.
Dhananjay Regmi, former executive officer at Nepal Tourism Board, emphasized the importance of strengthening Nepal’s diplomatic relations to boost tourism.
The two-day seminar facilitated debates on various issues, including energy and good governance.
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