President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Dhakal, has stated that there are indications of some revival in the economy.
Speaking at an interaction program on new provisions related to revenue leakage control and the use and implementation of VCTS, he mentioned that while the market is not performing exceptionally well, economic indicators suggest a positive trend and signs of improvement.
He said, “Recently, there are signs that the economy is becoming somewhat dynamic. Economic indicators are showing a positive trend. Compared to last year, imports have decreased by 7.1%, exports have increased by 31.8%, deposit collection has risen by 3.7%, credit to the private sector has grown by 5.2%, revenue collection has increased by 12.7%, and expenditure has risen by 17.8%. These statistics indicate some movement in the market. While it may not be highly favorable, it is still a positive sign of recovery.”
Furthermore, he emphasized that all government bodies should focus their roles and activities on revitalizing overall economic activities, assuring that FNCCI will always stand in support.
He added, “In the coming days, all government bodies should direct their roles and activities toward making economic activities more dynamic. We believe that the role of the Department of Revenue Investigation should be more balanced and coordinated in this regard. FNCCI will always stand by your side in this effort.”
He also highlighted that if private sector investment is not promoted and actively pushed forward, the desired outcomes will not be achieved.
