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Finance Minister Admits Lack of Development-Friendly Policies, Structures   

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Finance Minister Admits Lack of Development-Friendly Policies, Structures   
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January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. He made such remark during a meeting with the economic experts on Sunday.    

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

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

On the occasion, the experts said although the national economy was not pushed to the brink, certain measures should be adopted to avert the worsening situation. The restriction on import should be continued till the balance of payments (BoP) is normalized for foreign currency reserve. They suggested to the minister that the capital expenditure must be increased, agricultural products need a boost and debt in unproductive sectors discouraged to make the economy dynamic.    

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

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