Kathmandu. Executive Director of Nepal Rastra Bank, Dr. Ram Sharan Kharel said that various types of concessions will be provided to boost the morale of the businessmen who are facing problems due to the Genji demonstration. Minister Kharel said this at an interaction program organized by the Association of Economic Journalists of Nepal (NAFIJ) on Tuesday.

He said that loan restructuring, rescheduling, concessional loan disbursement and providing low-interest loans would be carried out to uplift the morale of the private sector especially after the Genji demonstration.

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Will the economy go into recession after the Genji protests? Will the price rise go up? Doubts are being raised. However, looking at the overall situation after the damage, it does not seem that the price hike will go beyond the targeted limit,” Kharel said, “The foreign exchange reserves are sufficient and there will be no impact on remittances unless there is an impact on the external sector.” This will keep us in a comfortable position in foreign exchange reserves. ’

He said that although questions were raised about how to carry out reconstruction works after the past damages, there is now an investible amount of Rs 800 billion that can be spent on this day. On the other hand, he said that the interest rate for investment is also comfortable. Kharel claims that this will facilitate the reconstruction of physical infrastructure.

“The main issue now is how to boost the morale of the private sector. If the liquidity is sufficient and the interest rate is low, then the return on investment can be obtained. In this way, we are not in much trouble,” Kharel said, “Just as the IT sector has improved after the Corona epidemic, there is a need to look at which areas can move forward.” ’

He said that there was no problem in achieving the economic growth rate of five and a half percent or six percent in this fiscal year as the financial situation is comfortable. According to him, it is necessary to create a similar situation from the private sector as well as the government sector is seen to contribute well to the reconstruction.

“Our country has been changing in recent decades. There will be damage and new things are coming. “Even during the Corona pandemic, we had a lot of digitalization and the IT sector also moved forward at a positive pace,” he said. Kharel said that the tourism sector has also improved during this period.

“A positive message has emerged that the public institutions should be reformed in a transparent manner and that the government should not only listen to the voice of the citizens but also untie the knots to resolve the problems on time,” he said.