Butwal, July 24: Finance Minister Dr Prakash Sharan Mahat has said the monetary policy for the current fiscal year will help stimulate the economy. Nepal Rastra Bank unveiled the Monetary Policy for the Fiscal Year 2023/24 on Sunday.
The flow of investment from the private sector would now increase as the monetary policy has adopted the policy of decreasing the interest rate, Finance Minister Mahat said, while addressing a press conference organized today in Butwal by Nepal Press Union Rupandehi. He added that investment would increase with the reduction in the interest rate and this would lead to an increase in the employment.
Stating that the government has made a plan of fulfilling the revenue collection target in the current fiscal year, he underscored the need of awarding contracts on time in order to boost capital sector spending.
Finance Minister Dr. Mahat made it clear that there is no reason to be disappointed as the government has moved ahead with the development of the country as a top priority. He expressed confidence that the economic sector will take the path of improvement as soon as the capital expenditure is increased.
He also said that he succeeded in recovering smuggled gold from Tribhuvan International Airport due to his own activism. Stating that the smuggled gold was recovered after arranging a reward for the informer, Finance Minister Mahat promised to investigate the matter to the root.
Finance Minister Mahat, who is also the spokesperson of the Nepali Congress, said that transparency was maintained during the live broadcast of the party’s central committee meeting and the truth came out. He says that many confusions within the party have been exposed by the live broadcast.
