Kathmandu: Member of the National Planning Commission, Dr. Prakash Shrestha, has highlighted the necessity of policy-level reforms to modernize and commercialize the agriculture sector. During an interaction organized by the Nepal Forum of Economic Journalists, he emphasized the importance of policy enhancements to increase agricultural yields and drive the country towards economic development.
According to National News Agency Nepal, Dr. Shrestha advocated for the government to implement mechanized subsidies and concessions for farmers based on their production levels. He noted that sectors such as agriculture, tourism, infrastructure, and industry are key in providing employment opportunities for the youth. Furthermore, he urged commercial banks to direct investments based on regional specialization to optimize capital management.
Dr. Shrestha also clarified the adoption of a policy to exclude projects costing below Rs 30 million to avoid a distributive budget approach. Meanwhile, Chief Executive Officer of Nabil Bank, Manoj Gywali, underscored the significant role banks and financial institutions play in capital collection and investment expansion. He stressed the importance of banks being cautious about collateral security when disbursing loans from public deposits.