Serious review of slow economic growth imperative: Finance Minister Khanal

Kathmandu, Dec 1: Finance Minister Rameshwor Khanal has said it is imperative to make a serious review why the country could not make an expected economic growth.

At a programme organized by the Society of Economic Journalists Nepal (SEJON) on its 29th anniversary and award handover ceremony on Monday, Minister Khanal argued the development and economic activities faced negative impacts of political disenchantment and instability in the recent years. 

"Although there is frustration towards politics, we must not forget that even the individuals' property is the state's property," he reminded. 

Authenticity of information and its impact in society are important issues drawing concern along with the rising use of technology of late, he said, adding that fake information and baseless news can even strain international relations and investment environment. So, media needs playing an important role to this regard.

Minister Khanal further argued, "Right message helps to create positive thoughts, thereby boosting investors' morale. So, information dissemination counts much." 

In recent time, government has speeded up works relating to mega infrastructures by allocating additional budgets. Even the issues of capital market would be addressed, he vowed. The Minister appreciated the role SEJON played in creating debates on national economy and promoting professional journalism. 

On the occasion, Minister for Commerce and Supply, Anil Kumar Sinha, said government had aimed at creating more jobs and domestic products, and boosting economy.  "Holding election in a free and fair manner and ensuring good governance are equally important mandate," he reminded.

Sinha informed that government had forwarded the economic activities as per the spirit of Gen Z movement.

Governor of Nepal Rastra Bank, Dr Bishwonath Paudel, viewed the management of liquidity is a present challenge facing Nepal's economy. It is worrying that investment in infrastructure is limited irrespective of adequate liquidity in bank and financial institutions and low interest rate, he said.  

Dr Paudel, however, admitted lack of effective enforcement of provisions in the monetary policy. Expansion of loan is essential- in the sectors of agriculture, tourism, energy and production. All sectors of economy need responsible performance for boosting economic activities in the country, according to him. (RSS)