Lalitpur. Nepali Congress President and former Prime Minister Sher Bahadur Deuba has stressed the need to encourage industrialists and businessmen to invest.

Speaking at a programme on the country’s financial and monetary situation at the party’s central office in Sanepa on Tuesday, he said one of the important objectives of the seven-point agreement reached between the NC and the CPN (UML) was to revive the economy.

“After the NC government came to power in 2048 BS, the policy of privatization and liberalization was brought, after that the NC received a lot of abuses, Girija Prasad Koirala abused a lot, but still we are ready to help the policy sector to run industry and trade, trade is done by traders, industry industrialists will do it, the government will not do industry business, we are ready to help what the government should help,” he said. ’

President Deuba claimed that despite the negative impact on Nepal’s economy despite the long armed conflict, devastating earthquake of 2072, covid-19 pandemic and conflict between Russia and Ukraine, the country’s economic stability could be maintained.

President Deuba shared that the external indicators of the economy, the government’s current account and balance of payments savings have been steadily increasing, foreign exchange reserves have improved significantly, remittances have increased at a high rate, inflation has been limited to about 4 percent, credit flow to the private sector has increased by 4.6 percent and imports have increased by 13.1 percent and exports have increased by 77.8 percent compared to last year.

“Although there are signs of economic growth due to the contribution of power generation and distribution, financial and insurance, mining and mineral extraction sectors, efforts will have to be made to win the confidence of the private sector and the general public by making expected improvements in the real sector of the economy, including production, employment, industry and business conditions, investment promotion,” deuba said. In order to end this, structural, institutional, procedural reforms and necessary acts, laws and procedures need to be made as soon as possible. ’

President Deuba expressed the belief that the reduction in interest rates as per the monetary policy unveiled by the Nepal Rastra Bank (NRB) would generate some enthusiasm among the industrial business and the general public by expanding the flow of loans.

“Agriculture and industry have been severely affected due to our dependence on remittances, therefore, it is very important to make the financial and monetary policy linking remittance with production effective,” he said, adding, “In the present situation, the cooperative authority has been arranged to make the cooperative sector more systematic, transparent and reliable. । ’

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal stressed the need to focus on improving the morale of investors. He said nepal’s laws, government budget and monetary policy have added to the enthusiasm of the private sector and created suitable opportunities for investment.

Suyog Shrestha, president of the Development Bankers’ Association, said that the non-cooperation from the local government has made it difficult to invest. He stressed that remittances should not be relied solely for the sustainability of the economy.

Chairman of Confederation of Banks and Financial Institutions Nepal (CIFFIN) Upendra Poudel stressed the need of developing infrastructure sector in a way that promotes tourism sector in Nepal. Stating that banks and financial institutions are providing loans to promote foreign employment returnees in employment, he stressed the need to focus on capacity building.

Former Governor Dr Chiranjibi Nepal said that the budget has come positive and the government has done good work to keep the economy moving. He said that while all indicators of the economy are getting better, there is a positive debate everywhere and flexible monetary policy has also played a role in reducing the interest rate.

Neeraj Giri, former executive officer of the Securities Board, stressed the need to amend the Securities Act in a timely manner. Stating that restructuring of The Nepal Stock Exchange has become mandatory, he stressed the need for managing a separate stock exchange for companies with capital less than Rs 250 million.

Gyanendra Dhungana, former executive officer of Nabil Bank, stressed the need to mobilize remittances from abroad properly, saying the economy, which has been slowing down for the last four years due to decrease in production and employment, is gaining momentum.

Chartered Accountant Analraj Bhattarai said that the power sector, transport and storage and financial sector have made significant contribution to the economy and have increased employment.

Chartered accountant Bhuwan Dahal, a member of the Bank and Financial Institutions Reform Task Force, stressed the need of making policy arrangements so that the private sector could be encouraged in the infrastructure development sector.

Department chief Karna Bahadur Budha said the programme was organized with the objective of providing appropriate suggestions to the government through the party.