Kathmandu: Finance Minister Rameshore Khanal has said that although Nepal must continue moving toward a market-oriented liberal economy, the overall character of the national economy is gradually changing.

Speaking at a seminar organized by Nepal Rastra Bank (NRB) on the contributions of Dr Yadav Prasad Pant to Nepal’s economy, Minister Khanal highlighted political and policy instability as major challenges. He noted that both domestic political dynamics and external factors have put pressure on the country’s economic environment.

“The feature of Nepal’s economy is changing. The contribution of the industrial sector has declined, while the contributions of the service and production sectors have risen rapidly,” he said.

Despite the shifting economic structure, Minister Khanal stated that the current economic situation was not discouraging, expressing confidence that Nepal could achieve the expected growth rate with 8 percent loan disbursement.

Recalling the legacy of Dr Pant, the Minister said Pant had played a historic role in linking Nepal’s economy with international systems and in fostering coordination between the agriculture and industrial sectors.

NRB Governor Dr Bishwo Nath Paudel, speaking at the event, remarked that political changes may occur overnight, but economic reforms and transformation require time and consistent effort.

The seminar was held to mark the 100th birth anniversary of former NRB governor and former finance minister Dr Pant.

Former Finance Minister Dr Prakash Chandra Lohani said Nepal’s development has been slowed by low domestic production and high imports, combined with remittance-driven consumption.

Similarly, former Finance Minister Dr Yubraj Khatiwada emphasized that the finance minister should prioritize economic considerations over political pressures.

Former Finance Minister Dr Rup Joyti added that promoting entrepreneurship should be a top priority in the current context.
Dr Pant has authored nearly two dozen books on economics, planning, and Nepal’s economic diplomacy.