Finance Minister Sharma claims improvement in economic indicators

NL Today

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Kathmandu: Finance Minister Janardan Sharma has claimed that economic indicators are improving.

Speaking at a press meet organized at Finance Ministry on Monday, Minister Sharma said that increase in foreign loans, remittance and revenue collection will help to improve the current scenario.

He claimed that Nepal’s economy is not in crisis, accusing the opposition of politicizing over the economy.

Minister Sharma said that the Ministry of Finance is taking necessary steps to increase foreign investment, curtail imports of luxury goods and increase investment in manufacturing.

He said that some proposals have been forwarded to the Council of Ministers after evaluating the financial indicators for the first seven months. Minister Sharma stated that the government will formulate a plan to reduce the consumption of petroleum products.

He said the foreign reserve is at Rs 1171 billion and it would be enough to finance imports for six-seven months. Sharma noted that remittance inflow increased in February/March. He added that the number of people receiving labor permits for foreign employment has surged and foreign investment has also increased.