Prime Minister KP Sharma Oli has sought concrete proposals from the private sector for the revival of sick industries under a public-private partnership model. Speaking at a meeting of the industry-commerce promotion dialogue council held at the Prime Minister’s Office in Singha Durbar on Tuesday, he expressed the government’s readiness to collaborate with the private sector in order to revive these industries.

The Prime Minister assured that if the private sector comes up with clear proposals, the government would act swiftly to facilitate their implementation. He also stated that the government is committed to revising and enacting necessary laws to ease the process and ensure economic prosperity.

Addressing concerns over corruption and irregularities in customs and revenue, Oli revealed that he had already directed the authorities concerned to take strict action against such practices. He emphasised that economic development cannot be achieved simply by having money; rather, it requires a focused approach on generating wealth through development.

During the meeting, members of the council shared their suggestions on increasing collaboration and co-investment in public-private partnerships, boosting the use of domestic products in public procurement, reducing trade deficits, implementing ordinances, and accelerating construction and project completion.

The council was established following a Cabinet decision on September 21, 2018, with the aim of fostering regular dialogue between the public and private sectors to aid economic development.

Together with the discussions on policy reforms, the meeting also reviewed progress in economic and administrative reforms, amendments to 29 laws through ordinances, advancements in infrastructure development, and initiatives to facilitate startups and businesses.

According to the prime minister's secretariat, the council also decided to establish various committees, which will work on production, infrastructure, trade, export, and governance-related matters, to address sector-specific issues and provide solutions.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel, Minister for Culture, Tourism, and Civil Aviation Badri Prasad Pandey, Minister for Industry Damodar Bhandari and Vice Chairman of the National Planning Commission Shiva Raj Acharya, among other top officials, were present at the meeting. Also, representatives from the private sector attended the council meeting.