Finance Minister Dr Swarnim Wagle has said investments made by the Citizen Investment Trust (CIT) will be managed in a transparent, secure and result-oriented manner.
Responding to lawmakers’ queries during the theoretical discussion on the Citizen Investment Trust (Third Amendment) Bill, 2083 in the House of Representatives on Wednesday, Wagle stressed the need to mobilize institutions such as the CIT effectively to balance the country’s internal and external resources.
He said the government must adopt a cautious approach to risk management when deciding how flexibly public funds generated from citizens’ savings can be invested, particularly when domestic savings are insufficient to meet the country’s resource requirements.
Wagle emphasized that the funds collected from the public must be invested securely while generating appropriate returns.
Lawmakers participating in the discussion also called for stronger safeguards, transparency and effective management of CIT funds. They emphasized that the Trust’s investments should be secure, productive and capable of generating returns for its beneficiaries.
The CIT currently manages savings of around Rs 337 billion, making the institution an important mobilizer of long-term domestic savings.
Lawmakers including Sushil Khadka, Krishna Hari Budhathoki, Nitima Bhandari Karki, Madhav Bahadur Thapa, Sitaram Sah, Prabha Dhakal, Janak Singh Dhami, Pukar Bam, Amrita BK, Radhika Ramtel, Devraj Pathak and Balawati Sharma took part in the theoretical discussion.
Following the general discussion, clause-wise deliberations on the bill will be conducted by the concerned parliamentary committee based on amendments registered by lawmakers.
The proposed amendment is expected to provide a framework for strengthening the CIT’s investment practices while ensuring greater transparency, risk management and effective utilization of citizens’ savings.
