KATHMANDU, SEPTEMBER 1

Deputy Prime Minister and Minister for Finance Bishnu Paudel has expressed the government readiness for tangible interventions for the advancement of national economy.

At the 26th annual general meeting (AGM) of Society of Economic Journalists- Nepal (SEJON) held here Sunday, Finance Minister Paudel said the government was effortful to improve the economy through policy and operational interventions. He further shared that government was seeking recommendations from all sectors to boost national economy.

'Though economic and financial indicators are gradually advancing to positive trends, the confidence of general investors and consumers have not increased accordingly.

The economy is under pressure, Finance Minister Paudel said, calling for the private sector to adopt proactive approach towards attaining the national goal of development and prosperity.

The government was always open to address the genuine demands of private sectors, he added.

On the occasion, Nepal Rastra Bank (NRB) governor Maha Prasad Adhikari said the nation's economy is improving and monetary and financial indicators are turning convenient. 'The external sector is at ease. Inflation has decreased. Liquidity has increased in banks and financial institutions. The areas of automobiles and capital market are becoming vibrant,' he said, assuring of economic vibrancy

in a new way from this current fiscal year.

As he said, the NRB will find issues in the economic system and address them at a policy level.

President of the Federation of Nepalese Chamber of Commerce and Industry, Chandra Prasad Dhakal, expressed concerns that the Bill designed to amend the Banks and Financial Institutions Act incorporates provisions that are not private-sector friendly.

'Besides, the provisions allowing the Commission for the Investigation of Abuse of Authority and the National Vigilance Center to monitor the private sector may create issues,' he said.

He demanded prompt payment of government dues to the construction companies, control of cross-border imports and transactions taking place via illegal channel, and more flexibility in the provision regarding the amount of cash that Indian tourists can possess in Nepal.

President of Confederation of Nepalese Industries (CNI) Rajesh Kumar Agrawal said despite improvements in the economy, domestic production and demand is still stagnant.