Himalayan News Service

Kathmandu, July 2:

Prof Dr Guru Raghavan, professor of finance SDM Institute for Management Development, Mysore, India, while speaking at a talk programme on ‘External Sector Liberalisation: South Asian Experiences’ organised by Apex College said that the role of governments in effectively implementing financial institutions is crucial to maintain financial and economic stability in the region. Prof Raghavan said the problems surrounding the economy such as fiscal irresponsibility, controlled exchange rate system, wasteful government spending and reduced resource base need to be seriously ‘evaluated’ and resolved in time. He stressed on maintaining fiscal restraint, monetary discipline, effective privatisation, attracting foreign direct investment, tax reform, ending currency controls, prices and interest rates fixation by the markets for economy to keep going in an effective way. L P Bhanu Sharma, principal of the Apex College also spoke on the occasion. Dr Minendra Rijal chaired the talk programme.