Biratnagar: Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the Industry Trade Expo 2023 organized by the Morang Trade Association, stating that the economy has witnessed encouraging progress over the past year. Addressing the event, PM Dahal emphasized the government's commitment to social justice, good governance, and prosperity, working to address challenges faced by the economy.

Dahal acknowledged the improvement in several economic indicators, citing progress in containing inflation. The annual average inflation rate decreased from 7.11 percent to 5.38 percent last month. The Prime Minister highlighted advancements in the balance of payment indicators and the settlement of due payments to contractors, expressing optimism that it would accelerate new project construction.

Promoting local agro products and encouraging the use of domestic products were underscored by Dahal as crucial steps to stimulate the economy. He expressed confidence that events like the expo would help promote tourism and religious destinations in the province.

Regarding remittances, PM Dahal noted that the monthly average inflow exceeded Rs 120 billion in the current fiscal year, totaling Rs 477 billion in the past four months. While acknowledging the importance of remittance, he emphasized the need for a more sustainable solution for the economy.

Nepali Congress central member Dr. Shekhar Koirala advocated for the development of Biratnagar, emphasizing the need for a ring road, upgrading Biratnagar Airport, and regular cargo rail service. Biratnagar Metropolis Mayor Nagesh Koirala called for planned development, connecting the town to become a tourism hub.

Morang Trade Association and Federation of Nepalese Chamber of Commerce and Industry central member Nabin Rijal demanded tax exemptions for 34 products to promote domestic trade, prevent smuggling, and establish a ring road and an industrial expo hall in Biratnagar. The trade expo, featuring 240 stalls from Nepal, India, Bangladesh, and Pakistan, will continue until January 1.