Government Continues To Follow Present Economic Policy: Finance Minister Pun

Government Continues To Follow Present Economic Policy: Finance Minister Pun

March 17, 2024, 8:28 a.m.

Finance Minister Barsha Man Pun has said the government would not change its policies but work styles to recover the national economy from the slump.

During the 'RBBL Management Conference 2024' organized in the federal capital today, Finance Minister Pun vowed to create jobs within the country and to curb the exodus of youths.

"There won't be fundamental changes in government policies but work style in the wake of change in Cabinet members. The policies are framed based on the Constitution. Difference in work style ensures different results," he reminded.

He admitted that there is a widespread perception- the system changed, but people's status did not. "I work in a way it foils this perception restores youths' hope and addresses their complaints. Review is going on for the changes and improvement," Pun stressed.

According to him, it is a criminal trend to disobey the banking rule of paying the loan. It is wrong to accuse anyone of involving in crimes merely because he/she has contact with those implicated in crimes. "There is a system and law that ensure action against anyone irrespective of post and power after the investigation in case of any charge," Pun said, however, saying that the time has come to mull why there are widespread questions over any institution.

According to him, good governance, economic prosperity and social justice are prioritized by the present government.

Public finance needs attention and action for an improved economy. The government is for higher revenue collection and increased development spending. The Finance Minister admitted that the national economy had seen some problems due to microfinance and cooperatives issues.

He sought congruity in fiscal and monetary policies. Banking is one of the well-managed sectors in Nepal, the Finance Minister argued.

On the occasion, Nepal Rastra Bank Governor Maha Prasad Adhikari said the banking sector has mobilized huge resources. It must not be misused. The loan must not be floated to unproductive sectors, he made aware the banks.

The banking and financial sectors need further honesty and accountability to frustrate the assaults made from various sides. It is worrying to hear that a loan is not provided without a bribe, he shared, urging banks to pay heed to it well.

Investment is required for sustainable and green infrastructures as per the government's priority, Adhikari underlined.

He expressed happiness over Rastriya Banijya Bank's performance in recent times.

Chairman of Nepal Bankers' Association, Sunil KC, viewed, that although the banking sector was facing various challenges, its strength was not decreased at all.

Rastriya Banijya Bank's Chief Executive Officer Kiran Kumar Shrestha said the conference would be fruitful to whet debate on problems in banking and financial sectors and contribute to the national economy. (RSS)

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