KATHMANDU: Patan College and University Committee of National Economic Concern Society (NECS) today organized an interaction programme on “Investment in Real State, Financial Liquidity and Crisis in Nepalese Economy” on Patan Multiple Campus.

Nepal Land and Housing Developers’ Association representative Ichchha Bahadur Wagle said, “There is Rs 15 billion investment in this sector and different financial institutions have invested a sum of Rs 1.2 billion. People have invested huge amounts in this sector and no other lucrative sector is being currently explored. If money is not invested in real estate sector here, it will flow to markets of India as its economy is booming.”

However, Nepal Development Bank Association president Jhapad Bahadur Bohara said all economic indicators point that huge amount of people’s money should not be invested in only one sector which is an unproductive one. Financial companies must be accessible to the rural poor during their hard times. “Nepal Rastra Bank as well as Nepal government has given license to operate various financial institutions and it is their duty to follow the directives,” he said.

Nepal Rastra Bank former governor Dipendra Bahadur Chhetry said that some amount of homework was done during his tenure to bring such kind of rules to protect people’s deposit. The investors in the real estate sector have started to collect money from individual householders as there is liquidity crunch in banks, financial institutions and co-operatives. He added that the price hike in the real estate sector was unnatural as it had increased thrice within a month and would certainly takes the country to its bad days as regards the economy.