KATHMANDU: Finance Minister Swarnim Wagle has said that the private sector plays a crucial role in the development and transformation of the national economy.
Speaking at the 60th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry in Lalitpur on Monday, Minister Wagle stated that the government is moving forward with a goal of transforming Nepal into an approximately $100 billion economy, with significant contribution expected from the private sector.
He emphasized that the current government has placed high priority on the private sector and dismissed concerns about unnecessary crackdowns. Wagle clarified that only previously stalled investigations influenced by political factors are being pursued, adding that legal action will be taken against those involved in criminal activities under the guise of business.
The Finance Minister also noted that preparations for the upcoming fiscal year’s budget are being guided by the priorities outlined in the election manifesto of the Rastriya Swatantra Party.
Highlighting the importance of private sector involvement, Wagle said it is vital for job creation, increasing production, and expanding exports. He expressed confidence that policies aimed at protecting and promoting the private sector will help resolve existing challenges.
He further reiterated the government’s commitment to creating an investment-friendly environment, simplifying regulatory processes, ensuring policy stability, and attracting foreign investment.
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