Kathmandu. A high-level delegation of the Non-Resident Nepali Association (NRNA) held a meeting with Finance Minister Rameshwor Prasad Khanal today.

Various challenges faced in the operation of the NRN Nepal Development Fund were discussed in detail during the meeting.

The delegation presented their views regarding the policy provisions, permissions and amendment of existing regulations for the operation of the fund.

Minister Khanal assured that positive and practical steps would be taken towards resolving all the issues raised by the delegation. In the meeting, Minister Khanal expressed his commitment to remove obstacles in the operation of the fund by revising the related regulations of the Securities Board of Nepal soon.

Speaking on the occasion, NRNA President Mahesh Kumar Shrestha urged the NRNA to ensure 85 percent participation in the IPO. He pledged to support the government’s development efforts through the Nepal Development Fund in the coming days.

Founding President Dr. On the occasion, Chairman of the Fund, Upendra Mahato, urged the government to immediately amend the regulations required for the operation of the fund. Former President Kumar Panta urged the government to make a breakthrough at the policy-level to ease the long-running process.

The meeting was attended by President Mahesh Shrestha, Founder President Dr. The event was attended by former President Kumar Panta, Chairman of National Coordination Council Iraq Binod Shrestha, National Coordination Council Canada’s Dhruba Bhattarai, NRNA Nepal Development Fund’s Analraj Bhattarai, NRNA Executive Officer Rajendra Kumar Raut and Senior Communications and Foreign Employment Officer Indra Laxmi Ghimire.

A fund of Rs 10 billion is being established and brought into operation with the initiative of the Non-Resident Nepali Association (NRNA) in coordination and collaboration of the government. The Government of Nepal will have 5 percent investment in the fund and 95 percent of the non-resident Nepalis.