Kathmandu. Kathmandu: Finance Minister Rameshwor Prasad Khanal on Tuesday held separate meetings with Anna Bjarde, Managing Director of the World Bank Group, and Bo Li, Deputy Managing Director of the International Monetary Fund. Khanal, who is currently in Washington DC on the sidelines of the annual meeting of the World Bank and International Monetary Fund (IMF), held a meeting with Bejarde and Li.
In the meeting with Bezardye, Finance Minister Khanal said that the main task of the government formed after the demonstration of Jenji group in Nepal was to promote good governance and accountability besides holding elections on time. He also said that the incumbent government was committed to expedite the activities related to institutional and procedural reforms to improve the business environment and to carry out preparatory works for legal reforms.
Expressing gratitude to the World Bank Group for its support in Nepal’s development endeavors, Khanal pledged to further strengthen cooperation with the World Bank in the days ahead.
Stating that the World Bank was willing to work with the interim government, Bejarde said that the World Bank was willing to work with the interim government and discussed with the Finance Minister about the reforms to be done in economic and development management.
During the meeting with International Monetary Fund Deputy Managing Director Lee, Minister Khanal thanked IMF for its support and support in Nepal’s economic recovery. He added that the remaining reforms related to the extended credit facility currently being operated in collaboration with the International Monetary Fund would be forwarded and cooperation with the Fund would be strengthened in the days ahead.
On the occasion, Deputy Managing Director of the International Monetary Fund (IMF) Li congratulated the IMF for the successful completion of the sixth review of the extended credit facility and pledged continued support for the economic reforms ahead. Nepal Rastra Bank (NRB) Governor Bishwanath Poudel was also present on the occasion.
Addressing an interaction programme organized by Nepal-America Chamber of Commerce here today, Minister Khanal said the government was committed to creating investment-friendly atmosphere. He also promised to remove ambiguities seen in tax laws, simplify the profit return process and simplify the process for approving investment and closing down businesses.
On the occasion, representatives of various companies said that some decisions and provisions of tax laws and other regulatory bodies in Nepal have made investors uncomfortable. On the occasion, Finance Minister Khanal said that the tax laws would be finalized after holding adequate discussions in course of the formulation of the Finance Act and other issues would also be made through adequate research and development.
Also today, Finance Minister Khanal met with Vice-President of the World Bank Group for South Asia, Johannes Jute, and discussed the development projects currently being run by the World Bank in Nepal and the problems surfaced in their implementation.
