Kathmandu. Finance Minister Dr Swarnim Wagle has said that the relationship between the government and the banking sector is a shared national responsibility. <\/p>\n
Minister Wagle said this during a meeting with the CEOs of commercial banks held at the Ministry of Finance today. “I want to make one thing clear: the relationship between the government and the banking sector is not just that of regulatory and regulatory bodies; Economic growth, investment expansion, employment generation and financial stability are our common objectives,” he said. Therefore, today’s suggestions will not be limited to just discussions. We are committed to translate them into a clear roadmap for implementation. \u2019<\/p>\n
Finance Minister Wagle clarified that the meeting was not just a formal discussion but another step of a common campaign to revive Nepal’s economy. “After intense dialogue with the private industrialists, today we are sitting with you who are leading the financial system,” he said, “Because the banking system is at the center of production, investment, savings, financial confidence and economic activities.” \u2019<\/p>\n
Wagle said that commercial banks are the most important confluence of the economy. “Savers, entrepreneurs, farmers, industrialists, investors and youths who want to start new businesses will also come here,” he said, adding, “You can clearly see the real psychology of the economy, the confidence of the market, the thinking of the investors and the expectations about the future.” \u2019<\/p>\n
The budget has set a clear direction for the economic transformation of Nepal, he added. “Now our focus is on implementation. So, today I have come here to listen to your experiences and suggestions to resolve the problems seen in the economy along with the implementation of the budget,” he said. Increase investment. Expand production. Creating jobs and restoring confidence in the private sector. \u2019<\/p>\n
Minister Wagle said that the Ministry of Finance was forwarding the process of regulatory, legal and institutional reform from the government. “But one question we have to ask ourselves is: Are these reforms enough? What more needs to be done?” he asked. <\/p>\n
What is the psychology of Nepal’s economy today? Why are businessmen reluctant to expand? Why has the demand for loans not increased even when interest rates are historically low? Why has the excess liquidity in the banking system not translated into production and investment? Does the solution lie in monetary policy, fiscal policy or private sector confidence? Minister Wagle discussed this with the CEO of the bank. “What structural reforms are needed to increase the flow of credit to the productive sector of the banking system? What is the new approach to monetary policy, regulation and supervision? How can the coordination between the Finance Ministry, Nepal Rastra Bank and the banking sector be made more effective?” he asked. \u2019<\/p>\n
Wagle made it clear that today’s discussion would not be limited only to identifying the problems. “We want to move ahead with solutions, timelines and responsibility. We will reform the laws where there is a need for legal reforms,” he said, adding, “We will change the process where there are procedural problems.” We will coordinate where there is a need for institutional coordination. We will not shy away from taking a decision where it is necessary from the government. \u2019<\/p>\n
Minister Wagle said the government wanted to make the economy not only reactive but also full of self-confidence, decisive and optimistic towards the future. “So, let us take today’s meeting not as a periodic dialogue with the banking sector, but as a workshop to make Nepal’s financial system a leading partner in economic transformation,” he said. Let’s have an open discussion on the problems and find solutions. Let’s draw actionable conclusions from today’s dialogue. \u2019<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Finance Minister Dr Swarnim Wagle has said that the relationship between the government and the banking sector is a shared national responsibility. Minister Wagle said this during a meeting with the CEOs of commercial banks held at the Ministry of Finance today. “I want to make one thing clear: the relationship between the government […]<\/p>\n","protected":false},"author":16,"featured_media":309797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45060,45159,45033],"tags":[],"class_list":["post-309799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-corporate-en","category-news-en","category-uncategorized-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=309799"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309799\/revisions"}],"predecessor-version":[{"id":309800,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/309799\/revisions\/309800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/309797"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=309799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=309799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=309799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}