Thursday, 24 September, 2020

Balancing interest rate is most challenging task: NRB governor

File Photo

By A Staff Reporter
Kathmandu, Dec.1: Dr. Chiranjivi Nepal the governor of Nepal Rastra Bank on Sunday said that balancing interest rate was the most challenging task for the central bank.
Speaking in ‘22nd SEJON Day’ program in Kathmandu, the governor said that government could not prioritize unproductive sectors on providing loans. “Providing loans in 3 to 4 per cent interest rate to the home, auto or other unproductive sector is not possible, we have some limitations” he said.
The governor thinks that fiscal sector needs to be globalized but not localized for strengthening economy. He also said that national economy was improved since some three years back. “Search positive stories and encourage the society for social transform,” he added.
Governor Nepal asked the journalist to observe on the impact of any news before they write for their media. “Media in itself is a powerful weapon, journalist should be aware while using this tool because it directly affects society,” he said.
Elaborating US president Roosevelt as an example the governor said that national interest needs to be prioritized rather individual interests in media content.
Satish Kumar Mor, the president of Confederation of Nepali Industrialist (CNI) said that government should facilitate and encourage private sector to enhance the economy. “For now we are facing interest rates instability in industrial loans, it needs permanent solution,” he said.
Sekher Golchha, the senior vice president in Federation of Nepali Chamber of Commerce and Industry (FNCCI) highlighted on the joint collaboration between private sector and government. “The roadmap of prosperity can achieve through joint efforts, policy updates and safe business environment is needed for that” he said.
Governor Nepal honored two journalists Matrika Dahal and Kedar Dahal at the occasion. They were honored with Rs.5000 cash, shawl and certificate. Ramesh Kumar and Raju Baskota were provided fellowships.
Similarly, Nitu Pandit, Shiva Duawadi, Junarbabu Basnet and Ram Prasad Dahal were honored with certificate and shawl for their continuous contribution.

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