Government assures support for private sector: Finance Minister Pun

KATHMANDU: Finance Minister Barsha Man Pun has reiterated the government’s commitment to providing unwavering support to the private sector, assuring that no measures will be taken to discourage private enterprises.

Addressing discussions at the Ministry to gather input from representatives of banks and the finance sector for the upcoming fiscal year’s budget, Minister Pun urged private investors to invest with confidence, emphasizing that the government sees itself as a guardian of the private sector.

“The government will not enact any policies that hinder or discourage private sector growth. On the contrary, we are committed to promoting and facilitating private enterprises,” he affirmed.

Minister Pun revealed that efforts are underway to align the monetary policy with the government’s policies, programs, and budget for the upcoming year, with ongoing discussions being held with the Nepal Rastra Bank for this purpose.

“The government and the regulatory authority are aligned in their objectives. Our policies and programs, fiscal policy, and monetary policy will be harmonized to ensure coherence,” he explained.

Highlighting the improved economic outlook compared to the previous year, Minister Pun expressed his intention to introduce a budget that will further stimulate economic growth.

“We are working towards achieving the goals outlined in the constitution through collaborative efforts while adhering to established economic policies,” he stated.

Minister Pun assured that successful economic policies will be continued and encouraged private sector stakeholders to provide feedback without reservation, emphasizing the government’s role as a protector of private enterprises.

Recognizing the potential of the information technology sector, Minister Pun underscored the importance of promoting this industry to generate employment opportunities and attract investment, particularly given Nepal’s unique geopolitical circumstances.

“In line with our geographical position, we believe that prioritizing the information technology sector will yield significant benefits, including job creation and increased investment.

We intend to support this sector through the upcoming budget,” the Finance Minister remarked.

He further emphasized that the budget will prioritize key sectors such as energy, tourism, agriculture, and large and medium-scale infrastructure projects to drive economic development.