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Economic growth slows to 3.6 percent; Govt. employees organize sit-in demanding pay hike


KATHMANDU: The government has accepted that the low economic growth rate and high rate of inflation and increasing trade deficit were the main challenges of the country´s economy.

Releasing the Economic Survey, the Finance Minister Shankar Prasad Koirala informed that the total trade deficit had reached Rs. 438 .67 billion.

The Finance Minister also informed that against the set target of 5.5 percent growth in current fiscal year, it will be only 3.6 percent. According to economic report the growth was projected 1.3 in agro sector and 5 percent in non agro sector. The targeted growth could not be maintained for the deterioration of growth in agro sector, he said. The minister, however, said the industrial environment was improvement-oriented.

Koirala also said the current three year plan just brought poverty to 23.8 percent as against the target of 21 from 25.2 percent, and added it is urgent to decrease the poverty. The inflation has reached 8 percent as against the target to limit it to 7.5 percent, he said.

Meanwhile, carious unions of government employees staged dharna (sit-in) in front of the Finance Ministry on Friday, demanding a major salary hike.

The agitating civil servants said the government should announce a minimum hike of Rs 10,000 in the upcoming budget, saying that they are finding it increasingly difficult to manage basic facilities with their salary due to rising inflation. The unions have also warned of tougher protest if the government fails to address their demand.

Different unions of civil servants had jointly submitted a memorandum to Finance Minister Shankar Koirala on July 1 with a set of demands including pay hike. The government had raised the pay of government servicemen three years ago. The Finance Minister is to present the budget for the fiscal year 2013/14 next week.

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For Indian tourists travelling by land:- 72 hours (-ve) C-19 report, CCMC form and Antigen Test at entry point

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Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point