Finance Minister Janardan Sharma admits lack of development friendly policy, structures

Finance Minister Janardan Sharma has admitted the lack of development-friendly policy and structures to make the national economy dynamic. He said it during a meeting with the economic experts on Sunday.

"Inadequacy of appropriate policy and necessary structures has hindered the development," Minister Sharma said, adding that there was no clear economic policy in line with the constitution. It has a direct bearing on the national economy.

The Minister further said politics is the center of several problems, so consensus among political parties is imperative. It is necessary to frame appropriate economic policy, he underscored.

On the occasion, the experts said although the national economy was not pushed to the tailspin, certain measures should be adopted to avert the worsening situation. The restriction on imports should be continued till the balance of payment is normalized for foreign currency reserve. The capital expenditure must be increased, agricultural products upped and debt in unproductive sectors discouraged to make the economy dynamic, they suggested.

The discussion was attended by former vice-chairperson of the National Planning Commission Dr. Shankar Sharma and Dr. Min Bahadur Shrestha, Prof Dr. Bishwambhar Pyakurel, former ambassador to India, Dr. Durgeshman Singh, political and economic analyst Hari Roka, and Dr. Ram Kumar Phunyal.