Kathmandu. KATHMANDU: Nepal Rastra Bank (NRB) Governor Dr Bishwanath Poudel has said that there is a problem even when there is a lot of money. During a meeting with the Executive Committee of the Nepal Economic Journalists’ Association on Wednesday, he said that the problem has surfaced due to lack of investment despite having enough money.
“It’s hard to push from all sides. Now we have enough money. However, investment has not been made, it is not possible to say that there is enthusiasm in this sector even if we look at it regionally. All sectors are similarly weak. Sometimes it’s not money, sometimes it’s a problem, sometimes it’s a lot of money,” he said.
He said that due to the decline in the morale of the investors, the deposits in the banks and financial institutions could not be invested. According to him, although every sector is open for investment, the investors’ morale has weakened.
“In the past, investment was made in banks, insurance, airlines, telecom, schools, hospitals, real estate, among others. However, investment in these areas has stopped in recent times. After the closure of the lease, the real estate slowed down. Schools, hospitals, everything was closed. What should we invest in now?” he said, “There is a scramble for the license to allow the private sector. So I don’t have confidence. ’
According to him, there was a budget of Rs 100 billion for the year 2058/60. However, he said that the situation has not changed even though the size of the budget has reached Rs 18-19 trillion.
He also said that the balance sheet of the first quarter of the current fiscal year has deteriorated due to various recent incidents. He also said that the bank’s balance sheet is not in a position to be restored immediately.
