Bank defaulters won’t be pardoned

Kathmandu, April 25:

Krishna Acharya, chief of Industry Bureau of the CPN-Maoists, said the new government would form a tripartite commission comprising government representatives, bankers and debtors to look into bank loan defaulting cases.

The commission will scrutinise the cases of defaulters and look into reasons behind them case-by-case, Acharya said at an interaction organised by Reporters’ Club today. He, however, reiterated that strong action would be taken against the wilful-defaulters.

Acharya further said that the Maoists would now concentrate their efforts to bring in an economic revolution in the country. “The first phase that is political revolution has come to an logical end and the next phase must be the economic revolution,” he added.

He also urged all to join hands with the Maoists to build a new Nepal with new vision and new spirit.

“The thrust of the economic policy would be on job creation and protection and promotion of domestic capital as well as industry,” he said, adding that private sector would lead the overall economic and industrial activities.

Finance Minister Dr Ram Sharan Mahat, on the occasion, informed that the government has spent more than five billion rupees for CA elections. He said that the government would not bring any supplementary budget for the current fiscal year, as claimed earlier to balance to rising recurrent expenditures.

Dr Mahat also claimed that the government’s fiscal position is in a comfortable state due to hea-lthy revenue collection. “However, Nepal’s comp-etitiveness has been declining with a continuous fall of exports vis-à-vis ba-llooning imports,” he said expressing concern over deteriorating investment climate that could cause a serious impact on overall socio-economic development. “Higher level of economic growth is not possible unless higher volume of investment comes in labour and capital intensive sectors.”

Hailing Maoists’ long-term economic development vision, vice-president of FNCCI Bhasker Raj Rajkarnicar, said that FNCCI is also planning to unveil a new economic development plan — Vision 2020. He, however, asked Maoists to clear th-eir position on private investment in education and healthcare sectors.

Surendra Bir Malakar, president Nepal Chamber of Commerce, also hailed Maoists leadership’s commitments.