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Govt decides to reduce interest in agro loan

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KATHMANDU, April 20: Minister for Agriculture Development and Soil Conservation Tek Bahadur Thapa Gharti said the government has decided to reduce the rate of interest on agro loan by three per cent and discussions were underway about the issues of establishing the agriculture departmental stores for the benefits of consumers.



He said that the government was doing homework to formulate and implement the Agriculture Development Strategy within mid July.[break]



Addressing an interaction program on "Contribution of Agro Sector in Employment Creation and Poverty Alleviation" organised by the Balkhu Agriculture and Vegetable Market Management Committee here Saturday, the Minister said the new strategy would have the provision of giving subsidy on agriculture tools. Besides, it would focus on conserving biological diversities.



Also speaking on the occasion, CPN (UML) senior leader Madhav Kumar Nepal has said that all the political parties have a farsighted vision on the matters of attaining the economic progress.



Leader Nepal said the agro sector has one third contribution to the gross domestic product. Development of agro sector was possible if the government policy to that end was managed with the adoption of advanced and scientific methods, he added.



The former Prime Minister stressed that the government should increase investment in agricultural sector with effective implementation of agri insurance to take out peasants from poverty and exploitation.



Market manager Mohan Basnet sought the government support to systematize the market being operated by the private sector.



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