MP Swarnim Wagle has claimed that misgovernance is rapidly increasing in Nepal, warning that even key economic institutions are now being captured by vested interests.
Speaking at the meeting of the House of Representatives’ Finance Committee on Wednesday, Rastriya Swatantra Party lawmaker Swarnim Wagle strongly criticized the current political leadership, labeling it as paralyzed, corrupt, and incompetent. He warned that economic institutions are increasingly falling under the control of power brokers.
Wagle stated, “Earlier, the economic sector was somewhat insulated from intermediaries, but now, they have become the dominant force.”
He emphasized the need for concrete measures in the upcoming monetary policy to address this alarming situation. “Institutions like the FATF and the greylisting process clearly show that misgovernance is spreading everywhere. Currently, it feels like middlemen are running the show. Policy manipulation, corruption, and institutional capture must now be actively addressed by the Nepal Rastra Bank,” he said.
He further remarked that even Nepal Rastra Bank and regulatory bodies like SEBON are heading in a troubling direction, hinting that the actions of broker companies could lead to systemic failure. “This is not a reassuring situation,” he concluded.
This article was originally published on https://bajarkochirfar.com
Translated with the help of AI and reviewed by our editorial team.
