We have taken the banks & microfinance issue seriously: PM

KATHMANDU: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has stated that the government has taken the banking and financial sector’s problems seriously and will solve them.

Prime Minister Prachanda stated today at a meeting on identifying and resolving problems in the banking and financial sector at the Prime Minister and Council of Ministers Office, Singha Durbar, that the government has taken issues such as the interests of banks and financial institutions, microfinance problems, businessmen’s interests, and the tendency to cause financial chaos seriously.

The Prime Minister said, ‘Complaints from businessmen have been seen regarding the bank’s interest rate. News about microfinance problems are being published every day.

Businessmen have expressed interest and concern in various ways. On this occasion, the chaotic elements are trying to cause financial chaos. I have taken all these incidents seriously.’

Mentioning that the country’s economy is in a difficult situation, he recalled that during his first meeting as Prime Minister, it was decided to move forward with the cooperation of the private and public sectors to solve the country’s economic problems.

Today’s discussion centered on resolving problems in the banking and financial sectors, as well as microfinance. ‘The government is preoccupied with economic problems,’ he said.

He stated that he expects private-sector suggestions on how to solve the current problem. “The government is committed to resolving the issue; if necessary, a high-level commission can be formed,” he said.

The Governor of Nepal Rastra Bank, Maha Prasad Adhikari, gave a brief presentation on the current state of the economy and stated that economic indicators are moving in a positive direction during the meeting.

During the meeting, representatives from the private and banking sectors discussed the state of the private sector and made various recommendations to the government to address issues in the banking and microfinance sectors.

The meeting was attended by the Chief Secretary of the Government of Nepal, the Secretary of the Ministry of Finance, the Governor of Nepal Rastra Bank, officials from the Federation of Commerce and Industry, representatives from various professional organizations, and representatives from the financial sector, including the Bankers Association.