April 9: Prime Minister KP Sharma Oli said that the sugar traders misled the government and traded sugar at a high price in the market.
Addressing the 16th annual general meeting of the Confederation of Nepalese Industries (CNI), Oli said that the sugar traders had requested the government to restrict the import of sugar products as it was hitting the domestic products.
“As per the suggestion of the traders, the government had restricted the import of sugar from foreign countries during the last festive season,” he said, adding that the traders then sold sugar at Rs 105 per kg, which was earlier available in the market at Rs 55-60 per kg. PM Oli suggested the business community to compete in the market in a healthy manner.
PM Oli further urged the industrialists to invest in the sector which increases productivity and generates employment opportunities. “Investing in productive sector will ensure good return for the investors,” he said, adding the government was committed to promote domestic investment in the country.
Likewise, President of CNI Hari Bhakta Sharma suggested the government to amend old laws as per the need of time. “The ballooning trade deficit is something to worry about for the country. The government needs to work to promote domestic industries, and should change open import policy of the country,” he said, suggesting the government to develop infrastructure in Public Private Partnership model.
Sharma also suggested the government to restructure the non-functional industries in PPP model.
Similarly, Finance Minister Yuba Raj Khatiwada suggested the entrepreneurs to be competitive in the domestic market. He further said increasing investment in the hotel sector signals a positive growth of tourism industry in the country.