Kathmandu. Chairman of Nepal Chamber of Commerce Kamalesh Kumar Agrawal has said that Nepal’s economy is in a very volatile state.
Addressing the 33rd annual general meeting and 17th convention of the Nepal Trade Association here today, President Agrawal said that the economy was stable. He said that although the economic growth rate of 4.4 percent was projected for the fiscal year 2081/82, the situation has worsened due to the negative impact of COVID-19 and the lack of efficient management thereafter.
“Nepal’s economy is in a very unstable state. The economy is sluggish. The economy was projected to grow at 4.4 per cent in 81-82. But the negative impact of COVID-19 and the subsequent lack of efficient management led to the Genji movement on September 23 and 24. During the agitation, the private sector industrial enterprises suffered a loss of around Rs 80 billion. The overall business environment was negatively impacted. The morale of the private sector was very low. ’
According to him, the industrial and commercial establishments in the private sector suffered losses worth Rs 80 billion during the Genji agitation on September 7 and 24. He said that this has had a negative impact on the overall business and industrial environment and the morale of the private sector is very low.
Chairman Agrawal said that despite being a country rich in abundant natural resources, it could not achieve economic prosperity due to lack of political and economic policy stability. He also said that the government has not been able to create enough jobs for the youth.
“The lack of political stability and stability of economic policy in our country which is rich in abundant natural resources has prevented us from creating employment opportunities for our youth, let alone economic prosperity,” he said. ’
According to him, more than 2500 youths are compelled to go abroad every day due to lack of employment. He said that this has become the main reason for the growing dissatisfaction among the youth and this dissatisfaction is also the main reason for the Genji movement.
He said, “The main reason for the dissatisfaction among the youths was that more than 25 hundred youths were forced to go abroad every day due to lack of employment in the country.” ’
Agrawal said that the demands of good governance, corruption control, employment generation and economic prosperity of the Genji generation are important and these issues are the pillars of the country’s development. Describing good governance as the confidence of the youths towards the future, he stressed on the need of eradicating corruption and using the experience gained abroad in a positive way within the country.
“The demands put forward by the Genji generation are good governance, eradication of corruption and job creation, the first step to economic prosperity. Good governance is a confidence in the future of the youth. We need to eradicate corruption and use the experience we have gained abroad in a positive way,” he said.
He said that Nepal has reached a politically sensitive juncture after the Zenji movement. He, however, said the results of the recently concluded elections had raised hopes and demanded that the next government should ensure the security of the private sector.
He said, “After the Genji movement, Nepal’s politics had reached a sensitive turn. But the results of the recently concluded elections have given a lot of hope. We demand that the next government should guarantee the security of the private sector. ’
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