KATHMANDU: Deputy Prime Minister and Minister for Finance Bishnu Paudel has expressed the government’s readiness to implement concrete interventions for the advancement of the national economy.
Speaking at the 26th annual general meeting (AGM) of the Society of Economic Journalists-Nepal (SEJON) on Sunday, Finance Minister Paudel emphasized the government’s efforts to improve the economy through both policy and operational measures.
He also noted that the government is actively seeking recommendations from various sectors to bolster the national economy.
“Although economic and financial indicators are gradually trending positively, the confidence of general investors and consumers has not yet increased accordingly,” Finance Minister Paudel remarked, urging the private sector to take a proactive role in achieving the national goals of development and prosperity.
He assured that the government remains open to addressing the genuine demands of the private sector.
Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari also spoke at the event, stating that the nation’s economy is improving, with monetary and financial indicators becoming more favorable.
“The external sector is stable. Inflation has decreased, and liquidity has increased in banks and financial institutions. The automobile sector and capital market are becoming more vibrant,” he said, expressing confidence in the economic recovery during the current fiscal year.
He added that the NRB is committed to identifying and addressing issues within the economic system at the policy level.
Chandra Prasad Dhakal, President of the Federation of Nepalese Chamber of Commerce and Industry, raised concerns about the proposed amendments to the Banks and Financial Institutions Act, which he claimed include provisions that are not private-sector friendly.
He also highlighted issues such as the potential for monitoring by the Commission for the Investigation of Abuse of Authority and the National Vigilance Center, which could create challenges for the private sector.
Dhakal called for the prompt payment of government dues to construction companies, stricter control over cross-border imports and transactions conducted through illegal channels, and more flexibility regarding the amount of cash Indian tourists can carry in Nepal.
President of the Confederation of Nepalese Industries (CNI), Rajesh Kumar Agrawal, noted that despite some improvements in the economy, domestic production and demand remain stagnant.
Comment