MPs demand govt’s response on Nepal’s grey list status
In response, the government has been asked in Parliament to clarify its strategy for Nepal’s removal from the list.
KATHMANDU: The Financial Action Task Force (FATF), an international body monitoring money laundering activities, has placed Nepal on its grey list.
In response, the government has been asked in Parliament to clarify its strategy for Nepal’s removal from the list.
During Tuesday’s session of the House of Representatives, MP Udaya Shamsher Rana sought an official explanation regarding Nepal’s ongoing efforts to exit the FATF grey list.
“The primary reason Nepal was placed on the grey list is weak regulation in the cooperative sector. What measures is Nepal taking to strengthen regulatory oversight and expedite its removal from the grey list? The government should inform Parliament,” he stated.
MP Rana also highlighted that Nepal’s sovereign credit rating of ‘BB-’ is relatively strong compared to most South Asian nations, emphasizing that the country should capitalize on this advantage.
Additionally, he raised concerns over delays in the construction of the Kanti Lokpath and urged the government to expedite the reconstruction of the BP Highway, which was severely damaged by floods and landslides last October.
He further pointed out delays in several road construction projects, the reckless excavation of roads leading to increased flood and landslide risks, and called on the government to accelerate post-disaster reconstruction efforts.
