Finance Minister assures support to private sector

Kathmandu, July 16: Deputy Prime Minister and Minister for Finance Bishnu Prasad Poudel has argued that the challenges of the country's economy will be resolved with the formation of a stable government adding that such challenges were created due to political instability.     

 At a meeting with the representatives of Nepal Bankers' Association on Tuesday, Poudel stated that the government will work with firm determination to address the issues of every sector.     

The Finance Minister asked the bankers to convey a positive message in the market adding that the government would focus on troubleshooting the country's challenges. "Global context and some internal reasons are responsible for economic slowdown but political instability is the main reason," the Finance Minister stated. "However, this is a strong and stable government," Finance Minister Poudel said.     

Minister Poudel stated that the major challenge of the time was to dissect the disappointments of the general public and the private sector.     

Likewise, the Finance Minister assured the bankers that the government will give custodianship to every sector.     

Similarly, Poudel vowed for policy interventions if they were needed for reforms in the economy.     

The central bank will unveil a prudent monetary policy at a time when the bank and financial institutions have expected some relaxed provisions in the new monetary policy for the current fiscal year, he hoped.     

"The Nepal Rastra Bank is an autonomous institution. I do believe that I should not interfere in its jurisdiction but I am sure Nepal Rastra Bank will address your rightful demands," he opined.     

On the part of the payment of dues to the construction entrepreneurs from the government, Minister Poudel said the issue is something different than it was widely circulated and added that he would take a decision soon after studying the issue. (RSS)