Finance Minister Dr Prakash Sharan Mahat has said agriculture is a foundational pillar of economic transformation.

"Before the establishment of loktantra, debates focused on politics, while after the new constitution, the debate shifted to economic issues," he viewed. Minister Mahat said it while addressing a seminar on 'Bases of economic transformation in Nepal: Good Governance, energy, agriculture, tourism, and labor and employment' organized by BP Thoughts Foundation here Saturday.

Agriculture is essential for economic transformation, he reiterated, adding Nepal's agriculture sector therefore deserves result-oriented investment. Self-reliant agriculture helps propel national economy, he underlined.

Modern agriculture with adoption of technology results in increased production. For it to happen, identification of geographically suitable crops is imperative, Minister Mahat reminded.

He however argued energy, tourism and technology are other pillars to ensure economic prosperity.

The Finance Minister was of the view that in a democratic socialism, private sectors could be promoted as leadership of production, while government's role would be monitoring whether the distribution is just. Government facilitates and reinforces private sectors, he assured.

Expert on the agriculture value chain, Dr Badri Bastakoti, emphasized the availability of irrigation, commercialization of agriculture, and guarantee of investment are prerequisites to elevate the status of Nepal's agriculture. "Compared to the past, there is a change in agriculture, but the change is yet to meet expected reform. So, collective efforts of all three tiers of government are a must to ensure expected results in the agricultural system," he viewed.

Former chair of the Nepal Farmers' Association, Dr Bhanu Bhakta Sigdel, suggested sticking to BP's ideology of socialism with agriculture in its foundation. Investment should be increased in this sector, he added.

Similarly, former executive officer at Nepal Tourism Board, Dhananjay Regmi, underscored the need to reinforce Nepal's diplomatic relations to boost tourism.

The two-day seminar whetted debates on the issues including energy and good governance.