PM calls for mutual cooperation to troubleshoot issues on economy

Photo: RSS

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said that the government was working to explore different measures to lower the bank’s interest rate.

During a meeting with the representatives of banks and financial institutions (BFIs) on Monday, the PM said the government was working seriously to bring about reforms in economy. “I organised this meeting. We are in regular parleys to reduce the burdens seen in economy. We are searching for measures to lower bank’s interest rate. We will reach a conclusion soon.” PM Prachanda said.

On the occasion, the PM noted that increased foreign exchange reserves and improved remittance inflow has eased the crisis to some extent. Likewise, the PM shared that he was thinking of holding a massive consultations with the representatives of the government and private sectors before unveiling the new budget.

The problems will not be resolved just by trading barbs, the PM said, adding that the current challenges and pressures on economy could be addressed through mutual cooperation. Saying that both national and international factors are responsible for the current crisis on economy, PM Prachanda stated that the government highly sensitive on revenue collection growth and revenue leakage control. “We will ensure firm monitoring mechanism, which brings reform on economy. We cannot address the issue of liquidity crunch unless real estate business was facilitated. So, we will reach a conclusion soon in this too,” the PM told the private sector’s representatives.

Similarly, the PM said that the anarchic activities including advocating the nonpayment of bank loans will not be excused. “Hooliganism cannot be tolerated. The government will be strict on this,” according to the PM.

On the occasion, the CEOs of the BFIs and officials urged for their security.

Present on the occasion were Finance Minister Dr Prakash Sharan Mahat, Chief Secretary Shanker Das Bairagi, Nepal Rastra Bank’s Governor Maha Prasad Adhikari, Home Secretary Binod Prakash Singh, Finance Secretary Toyam Raya and others.