Addressing a press conference at the Ministry of Finance on Thursday, Minister Pandey further said a general understanding for filling key positions including constitutional ones has been reached among the major parties and appointments will be announced by the cabinet on Friday, said Pandey.[break]
Highlighting recent economic performances of the government, Pandey said that the overall economic scenario is not as pessimistic as reported by the media.
Pandey underlined high inflation along with less than expected economic growth that is expected to hover around 4 percent are major concerns. Huge deficit in the balance of payment and widening trade deficit are other key worries, Panday said.
He blamed high price rise in food items in India for the continued double-digit inflation in Nepal, but expressed hope that it will start easing in the coming months as the supply situation has improved in recent weeks.
"Shutdowns, extortions, massive migration, power shortage and carteling are the major factors contributing to the high inflation," he said.
He also listed some of the major achievements made by the government during the current fiscal year.
There has been whopping 53.3 percent rise in recurrent expenditure and the government has just mobilized Rs 2.36 billion thereby helping to deal with the liquidity crisis, he said.
Finance Minister Pandey also ruled out any possibility of devaluation of Nepali currency and stressed that current foreign currency reserve is enough to support imports for seven months.
Minister Pandey also said recent inspection in ten major cooperatives that exposed serious irregularities and anomalies in their handling of funds have drawn serious attention of the government and vowed legal actions against wrongdoers.
National Planning Commission Vice Chairman Dr Yubaraj Khatiwada said the government is looking into a number of options to boost export-oriented industries.
Improving trade facilitation, loans and refinancing at concessional rates, smoothening raw materials importing procedures along with minor changes in customs rates are some the polices under considerations, he said.
Speaking on the occasion, Nepal Rastra Bank Acting Governor Krishna Bahadur Manandhar said there are strong indications in the market that the months-long liquidity crisis is easing as a result of a number of monetary tools implemented by the bank.
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