Banking News – Finance Minister Dr. Swarnim Wagle has said that the government is committed to creating a favorable environment for industries to operate and expand, rather than running industries itself.

Speaking during a meeting with industrialists on Tuesday, the minister emphasized that the government’s role is to facilitate private sector growth by addressing the challenges faced by businesses.

“If production costs are high, why are they high? What are the real reasons industries are struggling to operate? Why is new investment not coming in? Why are investors hesitant to invest? At which stage of laws, procedures, or administration do the problems exist? We want to find answers to these questions through practical action, not just reports,” Dr. Wagle said.

He further stated that the government is committed to continuously working toward resolving the problems faced by the industrial sector.

The Finance Minister added that discussions will focus on identifying the factors driving up production costs, including land, electricity, labor, transportation, financing, raw materials, and market access.

He also stressed the need to determine which existing laws require amendment, what new legal provisions are necessary, what immediate policy decisions the government can implement, what medium-term reforms are needed, and how the private sector itself can enhance its competitiveness.

According to Dr. Wagle, close cooperation between the government and the private sector will be essential to improve Nepal’s industrial climate, attract investment, and promote sustainable economic growth.