Finance Minister Dr Prakash Sharan Mahat has claimed that the country’s economy was gradually improving. He urged the investors to make their investment confidently stating that bank’s interest rate is also going down. Minister Mahat, who is also the Nepali Congress (NC) spokesperson, was speaking at the first district convention of the NC Makawanpur district committee.
On the occasion, Mahat stated that economy is at ease situation as the bank’s interest rate has declined, share market and real estate have improved, tourism arrival is good and the remittance inflow has posted impressive growth.
“Country’s economy is improving. We have created favorable environment by bringing (relaxed) monetary policy. A huge amount of loan was circulated in the time of comfortable situation. But, the loan investment was poured into the share market and real estate when economic activities could not happen during the time of COVID-19. Present crisis is created due to that impact,” Minister Mahat argued.
He shared that the banks and insurance companies have paid the tax to the government along with the decision to bring them under the tax ambit. Following the government’s direction to the authority concerned to collect revenues gained from bargain purchase gains through premium of further public offering, mergers and acquisitions and sale of auction shares, over Rs 12.8 billion in revenue was collected in the state coffers recently.
Minister Mahat stated that the loan to be received by the government would be focused on production and result-oriented sectors adding that such investment would be made in hydropower, technology-driven agriculture, tourism and road networks development.
