Chief Minister of Province-1 Rajendra Kumar Rai has said he would devote to development activities in the province to contribute to national ambition of prosperity. He however said inadequacy of capital was major hindrance to it.CM Rai was speaking at a workshop on ‘Potential of Economic Transformation of Province-1′ here on Monday. There is no option but to continue development activities to protect nationality and ensure prosperity, he stressed. The suggestion of investment authority to attract foreign investment is noteworthy as the government had no adequate capital to mobilize, he added.

According to the CM, time has come for Nepal to begin economic revolution because political revolution was over. Nepal needs to catch up with the development pace of China and India, he viewed.He further said production slumped in the country due to exodus of human resources. Similarly, unemployment is another nagging problem for long. CM Rai assured that province government would move ahead by incorporating experts’ suggestion and knowledge transfer, amending necessary laws for national and international investment and maintaining peace and security.

On the occasion, Minister for Transport and Communications Upendra Prasad Ghimire said the areas with huge potential to create employments could be explored first. It is time to speed up development to bring positive change among people, he added.

Professor at Mahendra Morang Multiple Campus, Prof Dr Uddhav Pokhrel, Professor at the American Military University in US, Modini Adhikari, Executive Director at Province Investment Authority, Dr Saroj Koirala presented papers on how the economic transformation could be ensured in Province-1.