Finance Minister calls for devoting next 10 years for development

KATHMANDU, May 18: Finance Minister Dr Yuba Raj Khatiwada has stressed the need of triggering a wave for national development and prosperity for a next one decade through the means of infrastructure in the aftermath of the formation of a stable government and of political stability in the country.

In his address to a two-day exhibition organized by SteelMint, an Indian steel company here, the Finance said the government had prioritized the exploration of minerals and possible iron mines in the country.

He was of the view that use of domestic raw materials in steel industries at home and quality production would contribute to make nation’s economy stronger. The event kicked off Thursday.

On the occasion, it was informed that iron trading of Rs 120 billion took place every year in Nepal.

Around 90 percent law materials for iron rods industries here is imported from India and remaining 10 per cent comes from China.

Iron rods produced in Nepal are used within the country. Until two decades ago, a certain percent used to be supplied to Tibet, the autonomous region of China. Various steel industries also from India shared the platform for exhibition of their productions.

On the occasion, Nepali industrialist Pradeep Kumar Shrestha demanded increase in banking facilities for steel industries as they had significant contribution to physical infrastructure development.

Some 50 industries from Nepal and India joined the exhibition. RSS