Finance Minister Paudel Pledges Government's Commitment to Strengthening National Economy Through Policy Interventions

Deputy Prime Minister and Minister for Finance Bishnu Paudel affirmed the government's readiness to implement tangible interventions to advance Nepal's 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 highlighted that the government is actively seeking recommendations from various sectors to enhance economic performance.

Despite some positive trends in economic and financial indicators, Paudel noted that investor and consumer confidence has not yet improved proportionately. He acknowledged the economic pressures and urged the private sector to take a proactive approach to achieve national development and prosperity goals. The government remains open to addressing genuine demands from the private sector, he added.

Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari reported improvements in the nation's economy, with favorable trends in monetary and financial indicators. He mentioned that the external sector is stable, inflation has decreased, and liquidity has increased in banks and financial institutions. Adhikari expressed optimism about economic vibrancy in the current fiscal year and assured that the NRB would address issues in the economic system at the policy level.

Chandra Prasad Dhakal, President of the Federation of Nepalese Chamber of Commerce and Industry, voiced concerns about the proposed Bill to amend the Banks and Financial Institutions Act, which he believes includes provisions that may not be favorable to the private sector. He also expressed worries about the potential issues arising from the involvement of the Commission for the Investigation of Abuse of Authority and the National Vigilance Center in monitoring the private sector.

Dhakal called for prompt payment of government dues to construction companies, stricter control of cross-border imports and illegal transactions, and greater flexibility regarding the cash limits for Indian tourists in Nepal.

Rajesh Kumar Agrawal, President of the Confederation of Nepalese Industries (CNI), pointed out that despite economic improvements, domestic production and demand remain stagnant.