Finance Minister Dr. Swarnim Wagle has held a detailed discussion with department heads of Nepal Rastra Bank to find ways to support citizens and private sector businesses facing financial crisis.
Finance Minister Dr. Swarnim Wagle has held detailed discussion with department heads of Nepal Rastra Bank (NRB) to find ways for facilitating citizens and private sector businesses who are currently in trouble due to financial crisis. The meeting was organized at Ministry of Finance on Wednesday to discuss about implementing new budget and boosting the economy.
Discussion with Central Bank Officials
Total of 18 executive directors from Nepal Rastra Bank participated in discussion. In beginning of the meeting, Finance Minister Dr. Wagle welcomed them as experienced and capable economists of the country. He said that their knowledge about overall economic and financial situation of the country is very important for nation building at this time.
Finance Minister then asked them for suggestions on how government can support citizens and private sector industrialists who are suffering from financial crisis. He mentioned that new budget is already in implementation and we need to make economy active by using it as a foundation for economic transformation.
Addressing the Blacklist Issues
Dr. Wagle also asked the executive directors to suggest ways to give another chance to thousands of citizens who have ended up in blacklist because of bad loans. He expressed his belief that central bank can help achieve economic prosperity through clean regulation and investment friendly facilitation.
During the discussion, executive directors shared that market confidence is slowly returning after the formation of new government. They said there are signs that economy will get back on track very soon. However, they pointed out that economy affected by Covid pandemic is not fully recovered yet, and its bad effects are still being faced by citizens and private sector.
The officials also noted that because thousands of people got blacklisted in a short period of time, the disappointment has affected market. They suggested that while ensuring complete safety of public savings in financial institutions, immediate effective steps are needed to bring citizens and businessmen out from stigma of blacklist.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
