KATHMANDU: Prime Minister Balendra Shah has urged Nepal Rastra Bank (NRB) to adopt a more flexible and supportive approach in the upcoming monetary policy to strengthen the national economy, stabilise the stock market and promote entrepreneurship.
Prime Minister Shah held a meeting with NRB Governor Biswonath Poudel at the Office of the Prime Minister and Council of Ministers in Singha Durbar on Thursday, where he discussed measures to make the economy more dynamic, resilient and business-friendly.
During the hour-long meeting, Shah stressed that economic confidence could be restored only through effective coordination between the government and the central bank.
The Prime Minister emphasised that NRB should play a supportive role in maintaining the confidence of ordinary investors involved in the capital market.
He suggested easing certain restrictive provisions in the monetary policy to create a more favourable environment for investment in the stock market and called for reforms aimed at strengthening the entrepreneurial sector.
Shah urged the central bank to ensure that small and large entrepreneurs seeking to establish industries, businesses and create employment opportunities can invest without unnecessary hurdles.
He also called for making bank interest rates and lending conditions more business-friendly to encourage domestic investment.
The Prime Minister further stressed the need to prioritise women entrepreneurs and businesses from economically and socially disadvantaged communities by providing easier access to credit and using monetary instruments to bring them into the economic mainstream.
During the meeting, Governor Poudel said NRB is committed to making the upcoming monetary policy and its future direction more professional, flexible and responsive to current economic needs.
He said both the government and the central bank share the common goal of accelerating economic growth and assured that NRB would not adopt policies intended to create difficulties or fear among stakeholders.
Poudel added that the central bank would continue facilitating everyone from stock market investors to small entrepreneurs through policy measures aimed at making the overall economy more dynamic.
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