CNI urges Finance Minister to improve economy

Kathmandu, April 2 :The Confederation of Nepalese Industries (CNI) has urged the newly appointed Finance Minister Dr Prakash Sharan Mahat to improve national economy. The CNI delegation met Minister Mahat and discussed pressing issues of economy on Sunday.     

Minister Mahat was also handed over a 10-point memorandum on how the economy could be propped up and normalized.     

CNI Chairman Bishnu Kumar Agrawal stressed the need for reducing interest rate, normalizing liquidity and encouraging investment for immediate improvement of economy. "These three issues must be prioritized at present. High morale is required to revive economic activities," Agrawal stressed.     

Moreover, he argued cash reserve ratio (CRR) needs to be reduced to three percent so as to decrease interest rate and manage liquidity; bank rate also needs to be downed.     

In the memorandum, the CNI further suggested the government to fix the interest gap of fixed and saving accounts at five percent maximum.     

In response, Finance Minister Mahat viewed government was in need of assistance from private sector to resolve the problems relating to economy. He however said government would devote to creating positive atmosphere for economic reform.     

"Government is ready to identify the problems and find solution. For this, cooperation from private sector is must," Minister Mahat underlined. (RSS)