Finance Ministry consults bankers on budget making


March 29, 2022


Finance Ministry consults bankers on budget making

Minister for Finance Janardan Sharma (File photo)

KATHMANDU: The Ministry of Finance on Monday held discussions with the stakeholders from bank and financial institutions, and insurance sector to solicit their feedback for the policy and programs and budget for the upcoming fiscal year.

At a meeting convened at the Ministry of Finance, Minister for Finance Janardan Sharma said the meeting was aimed at receiving comments on different aspects of economy. On the occasion, Sharma asked whether it was good for the economy for the same individual to be a banker and also a businessperson.

“Same individual or group is seen in bank and business. Is this a good practice? Provide me some suggestions if some amendments were needed in this,” the finance minister stated.

He also shared his idea of building a microfinance fund to provide concessional loan to the general people.

Minister Sharma also expressed his reservation to the existing system of depositing and withdrawing money in the banking system. “We have problems both in depositing and withdrawing money. My study has shown a huge amount of money is stocked at home,” he added.

It was a matter of concerns that the money has not returned in the system, the Finance Minister said while calling on the BFIs to run their activities in a transparent way.