MoF reviews situation of first quadrimester - The Ministry of Finance (MoF) has sought short-term and mid-term policies to boost exports till the country, in the long term, starts exporting energy to maintain its trade balance and said it is mulling over to support such export oriented efforts. During the review of the first quadrimester’s economic situation of the current fiscal 2014-15 and announcement of setting up of a grievances hearing cell in the ministry, Finance Minister Ram Sharan Mahat said that the alarming trade deficit is dragging behind the country’s economy. “The recent investment commitment by foreign investors in energy and tourism and hospitality sectors reveals that our investment climate is improving,” said Mahat, adding, “We’re maintaining very good macroeconomic condition except for the huge trade imbalance and there is no alternative other than to boost exports by focusing on short-term, medium-term and long-term export potentials.” The country, in this fiscal year, has received investment commitment of Rs 300 billion in energy, and more than Rs 25 billion in tourism and hospitality sectors, according to the finance minister. He also anticipated that foreign investment would increase as the country introduces all the legislations that were announced through the fiscal policy and expressed commitment to submi...
Posted on: Mon, 01 Dec 2014 03:48:53 +0000
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