Kathmandu. Finance Minister Dr. Swarnim Wagle has expressed concern that the loan has not been disbursed even when the interest rates have come down and the banks are ready to lend money. He said that there is a need for an environment of confidence in the market rather than the lack of capital in the economy.

Addressing the 28th annual general meeting of the Society of Economic Journalists of Nepal (SEJON) here today, Finance Minister Wagle said that although banks and financial institutions have the capacity to lend money, the demand for loans has not increased in the market. He said that an investment environment should be created by maintaining economic good governance to make the economy dynamic.

He said that the government is working to come out of the misgovernance seen in the policy and institutional level in the last few years. He said that the government is preparing to bring necessary reform policies to increase economic activities.

Finance Minister Wagle said that the problems of the cooperative sector have also affected the local economy. He said that preparations are being made to bring necessary policies to make the local economy dynamic along with the solution of the problems of cooperatives.

He also said that there has been a slowdown in the real estate business and it needs to be overcome. He said that the government is focused on creating an environment to increase private sector investment by removing the obstacles seen in the economy.

Wagle said that the government has taken the policy of giving the ‘dust’ of non-operational and government-owned industries to the private sector rather than operating the industries themselves. He said that preparations are being made to give such industries on operation lease.

Stating that the government is ready to reform and listen to the private sector, he said that it is not enough just to announce reforms. He stressed that the reforms should be implemented in practice.

He said that although the government has announced to repeal 15 Acts, it is more complicated to repeal the old Acts than to make new Acts. He said that necessary work is being done for this.

Stating that the government has been working through the alternative finance fund as well, Finance Minister Wagle said that the government has prioritized investment in the economy and to create an environment conducive for confidence.