Government Ready for Further Intervention to Improve Economy: Deputy Prime Minister and Finance Minister Paudel

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel stated that the government is ready to make stronger interventions to improve the country's economy. Speaking at a program in the capital, he emphasized that the government would prioritize policy and operational interventions to reduce economic sluggishness. Minister Paudel mentioned that although there has been some improvement in current economic and financial indicators, further intervention is necessary as investor and consumer confidence has not yet fully recovered.

Key Points:

Economic Sluggishness:
Minister Paudel noted that while government intervention has improved the country's economy, which was in a very poor state some time ago, additional intervention is still needed due to ongoing problems.

Appeal to the Private Sector:
The Finance Minister urged the private sector to stop complaining and instead increase investment in production and employment. He also mentioned that the government is ready to listen to and address the grievances of the private sector.

Nepal Rastra Bank's Perspective:
Governor of Nepal Rastra Bank, Maha Prasad Adhikari, stated that the country's economy is on a path to recovery and that there have been positive changes in monetary and financial indicators. He expressed confidence that the economy would be revitalized in a new way starting from the current fiscal year.

Concerns of the Private Sector:
Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that certain provisions in the Banks and Financial Institutions Act (BAFIA) pose challenges for the private sector. He urged for amendments to the provisions in the BAFIA bill.

Need for Domestic Production and Demand:
Rajesh Kumar Agrawal, President of the Confederation of Nepalese Industries, highlighted that the country's internal production and demand have not increased and need improvement.

The government has emphasized the need for policy stability and effective implementation, indicating its commitment to improving the economy through further intervention.