Kathmandu. Lawmakers of the federal parliament and economic experts have stressed the need for the upcoming monetary policy to attract foreign investment, keep the economy moving, create an investment environment and maintain economic discipline.

In today’s meeting of the Finance Committee of the House of Representatives, they suggested implementing the provision of credit growth in the sector of increasing production and employment regarding the monetary policy for the upcoming fiscal year 2082/83 BS.

In the meeting, former vice-chairman of the National Planning Commission Dr Min Bahadur Shrestha suggested making arrangements for smooth disbursement of project loans except for the mortgage of real estate. He suggested reconsidering the loan as 65 per cent of the total loan has been given against real estate.

According to him, the practice of prudent investment should be started to achieve balanced development keeping in mind the fact that only Rs 404 billion has been used in the capital of the investors when there is a deposit of Rs 7 trillion in the banking sector.

He suggested to move ahead by studying and preparing to review the existing exchange rate regime of foreign currency, pointing out the need for effective arrangements to prevent illegal and unwanted activities by monitoring internal and external transactions in the banking sector.

Another economist Nar Bahadur Thapa suggested that the upcoming monetary policy should be implemented in line with the Appropriation Bill keeping in view the situation where maximum liquidity and interest rates are not being implemented even when the maximum liquidity and interest rates are low.

“Not moving the economy means creating a situation of despair,” he said. In urban areas, ghaderis are beyond the reach of the general public. Scientifically, investment for the development of agriculture sector should be increased as it is very low. ”

In the meeting, former Finance Minister Barshaman Pun opined that declaring the budget small in the name of lack of resources would shrink the economic policy. “Monetary policy should be relaxed, restrained, disciplined and the economy should move forward,” he said. In particular, the morale of small and medium enterprises should be increased. ”

Former Finance Minister Dr Prakash Sharan Mahat expressed the belief that the monetary policy would correct the hasty actions taken in the past. “Monetary policy should come with high professionalism and long-term thinking. Monetary policy should be formulated keeping in mind those who want to do business using new technology in the agricultural sector. ”

Committee member and economist Dr Swarnim Wagle said the country’s economic structure and processes were also in the grip of political clutches. Lawmaker Binod Chaudhary stressed the need to encourage investors to improve the current investment situation and also create an environment to ensure the return of loans to the banks.

On the occasion, it was presented that the country’s savings and foreign exchange reserves are currently higher at Rs 491 billion and Rs 2,569 billion respectively. Inflation is only 4.2 per cent and there is more than Rs 700 billion in the banking sector and the interest rate on loans has come down to single digits.

It was informed that imports and exports have been increasing in recent times and significant work has been done in the construction of hydropower, road network, information and communication technology and tourism infrastructure.