Massive industrial and agricultural boost expected to meet the growth target

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Kathmandu, May 31, 2018 : Amid skepticism from stakeholders that the the government has set an absurd growth target in response to the existing infrastructure, the government is expecting a massive industrial and agricultural expansion this year to meet the target.

Minister for Finance, Yuba Raj Khatiwada, said that the government had targeted growth rate of 12 per cent and 4.5 per cent for the industrial and the agricultural sector, respectively and  achieving those would eventually help to achieve the target of 8.8 per cent growth in the financial year 2018/2019.

Talking to the press after the announcement, the minister said that the higher target were set for the industrial sector in order to meet the overall target of the growth for the financial year.

With the end of load shedding in the industrial sector, the government expects the production from the industrial sector to increase considerably. The government has plans to encourage companies producing 12 types of industrial products, including those producing construction materials like cement and steel, through government support to make the country self-reliant.

He further added that other important industries like manufacturing and mines will give a boost to the industrial sector.