April 4: A delegation of Nepal Chamber of Commerce (NCC) met with Vice President Ram Sahaya Prasad Yadav on Monday to congratulate the newly-elected vice president.

During the meeting, Vice President Yadav said that the current state of national economy is risky. He said that economic prosperity can only be achieved through a sustainable solution to problems such as lack of liquidity, high interest rates, inability to make capital expenditures on time, and unemployment. Yadav said, “It is important to find a long-term solution to the current problems in the economy.” He emphasized that there is a need for consistent cooperation between the government and the private sector.

Speaking at the occasion, Vice President Yadav promised to draw the attention of the government agencies to the suggestions provided by the chamber. During the meeting, NCC President Rajendra Malla request for the vice president’s coordination for economic development and prosperity of the country.

“Due to the lack of effective coordination between budget and monetary policy, the economy has not been able to pick up the expected momentum. The high interest rate has seriously affected entrepreneurs as well as the ordinary borrowers,” said Malla.

He said that economic activities could not return to normalcy due to the government’s inability to spend capital budget. Malla emphasized that there should be effective coordination in budget and monetary policy, saying that single digit interest rate should be maintained for economic prosperity and economy.