Finance Ministry consults with bankers on budget-making

Published On: March 29, 2022 02:55 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 29: The Ministry of Finance on Monday held discussions with the stakeholders from banks and financial institutions (BFIs), and insurance sector to solicit their feedback for the policy and programs and budget for the upcoming fiscal year.

At a meeting convened at the Ministry of Finance, Minister for Finance Janardan Sharma said the meeting was aimed at receiving comments on different aspects of the economy. On the occasion, Sharma asked whether it was good for the economy for the same individual to be a banker and also a businessperson.      

"The same individual or group is seen in banks and businesses. Is this a good practice? Provide me some suggestions if some amendments were needed to this," the finance minister stated.

He also shared his idea of building a microfinance fund to provide concessional loans to the general public.

Minister Sharma also expressed his reservation to the existing system of depositing and withdrawing money in the banking system. "We have problems both in depositing and withdrawing money. My study has shown a huge amount of money is stocked at home," he added. 

It was a matter of concern that the money has not returned in the system, the finance minister said while calling on the BFIs to run their activities in a transparent way.



Leave A Comment