Kathmandu. Former governors of Nepal Rastra Bank (NRB) have suggested that policy stability should be taken into consideration while formulating the monetary policy for the next fiscal year.

He made the suggestion at a meeting organized by the Rastra Bank at Marriott Hotel today to seek suggestions from outgoing and former governors.

Former Governor Chiranjibi Nepal stressed the need for maintaining policy stability while formulating monetary policy. “The Rastra Bank needs to carry out policy reforms through the monetary policy of the current fiscal year,” nepal said, adding that the monetary policy should be able to ease the problems seen in the economy. ’

He believes that monetary policy should be formulated based on research as it manages market money. Although the interest rate on loans has been declining in the market for the last two years, the demand for credit has not increased. Many believe that the demand for credit has decreased due to lack of confidence among investors. The former governors have suggested that such things should also be taken into account while formulating monetary policy.

Not only the national bank but also the government has a role to play in increasing the confidence of the market. Nepal believes that the market confidence has weakened due to the change in the policy taken by the government in six months and one year. Now is the time to pay attention to the suggestions made by the Khanal Commission, he added.

“If there is any problem, the government forms a committee and takes suggestions. There is a problem of not implementing the recommendations given by the committee,” said a former governor, adding, “The report given by the Khanal Commission is pending and everyone should pay attention to it.” ’

Similarly, everyone believes that the confidence in the market will not increase unless its government is aware that the government is imposing the burden of tax by bringing an effective policy.