Government serious about issues in bank, financial sector: PM Dahal

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said the government is serious towards the issues in banking and financial sector, pledging to address them.

During a meeting about the identification of and solution to issues in banks and financial sector organised today at the Office of the Prime Minister and Council of Ministers, the head of the government said interest rate of banks and finances, issues of micro finances, concerns of business community and financial anomalies are the serious concerns of the government.

“Business community is complaining about the banks’ interest rates. Problems in micro finances are making news headlines almost each day. Some forces are intending to take advantage of this development. I have taken all these phenomena seriously.”

Stating the nation’s economy is in difficulty, the Prime Minister said the very first Cabinet meeting of the incumbent government had decided to seek solutions to economic issues through collaboration with the public and private sector.

“Today’s meeting focused on resolving problems facing banks and financial institutions (BFIs). The government is at work to resolve economic problems. I am aware and cautious about people’s complaints about BFIs,” he said. He also sought suggestions from the private sector on dealing with the current problems in the country’s economy.

“The government is serious about the matter. A high level commission can be formed if need be,” he said.

Similarly, Governor of the Nepal Rastra Bank Maha Prasad Adhikari claimed that economic indicators were moving in a positive direction.
Participating representatives from the private sector and BFIs provided various suggestions to the government in resolving problems facing the BFIs.

Others present in the meeting were Chief Secretary, finance secretary, office bearers of the Federation of the Nepalese Chambers of Commerce and Industry, and representatives of various business organisations, the Nepal Bankers’ Association and BFIs.