KATHMANDU: Prime Minister KP Sharma Oli has announced plans to take new steps within three months to reduce the increasing trade deficit.
While presenting a vote of confidence proposal in the House of Representatives, Oli emphasized that trade is not just about purchasing but also selling.
He stated that Nepal would begin to engage in trade actively.
“In the first 11 months of the fiscal year, we imported goods worth Rs 1,454 billion while our exports were only Rs 140 billion. This discrepancy needs to be understood differently. Others are selling, and we are only buying,” Oli said, adding, “Is it really trade if we only buy and don’t sell? Now we need to start trading. Promoting industries that replace imports and produce consumer goods based on domestic raw materials is the government’s second priority.”
He also announced that the Ministry of Finance and the Ministry of Industry will prepare a roadmap for this initiative.
“The Ministry of Industry, Commerce, and Supplies will prepare a clear roadmap within three months in coordination with the Ministry of Finance and other ministries,” he said, assuring, “We will create a business-friendly environment. We will not just focus on imports but also on creating an environment for exports.”
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