March 11: Prime Minister Sher Bahadur Deuba has said that the economic stability of the country is not possible without sustainable development of small and cottage industries.  

The prime minister was of the view that the country’s development cannot be realized unless such industries are promoted and developed.    

Speaking at the inauguration of the 25th National General Convention of Nepal Federation of Small and Cottage Industries in Birgunj on Thursday, PM Deuba said that the government is ready to facilitate the development of small and cottage industries.

PM Deuba added that the government would take initiative to elevate the status of the small and cottage industries in the country which have been severely affected by the COVID-19 pandemic.

“Economic prosperity is possible only through sustainable development,” said PM Deuba.

According to PM Deuba, the government is committed to revitalize the economy that has been battered by the Covid-19 crisis.   

“There is no option but to step up national production to reduce the trade deficit,” he said, adding government is committed to promoting private sector.    

He also stressed the need for collaboration between the federal, provincial and local levels to create employment opportunities for hundreds of thousands Nepalis within the country and to contribute to the gross domestic production.