The government has taken various decisions with the aim of improving the country’s economy.
After discussing the current state of the country’s economy and the measures to be taken to improve it with various stakeholders including the private sector, the government has decided to facilitate the payment of loans by the businesspersons who have not been able to repay the interest on time. A decision has also been taken to study and review the bank interest rate.
Following the discussion held at the initiative of Prime Minister Pushpa Kamal Dahal, a decision was taken to establish a separate specialized mechanism to regulate financial cooperatives including to establish a cooperatives fund to protect the savings of the depositors.
According to the Office of the Prime Minister and the Council of Ministers, decision has been taken to improve the revenue structure based on the recommendations from the commission formed for the reform of the tax system. Likewise, it has been decided to give special emphasis on the implementation of major infrastructure projects including Budhigandaki Hydropower Project, Nijgadh International Airport, Karnali-Chisapani, Upper Arun and three different cricket stadiums. The outstanding payments of the contractors will be released immediately.
After the discussion, Prime Minister Pushpa Kamal Dahal has instructed the ministers and secretaries to work seriously to increase capital expenditure. A high-level commission for government reform and promoting good governance will be constituted, the Industry and Commerce Promotion Dialogue Council, which was formed under the chairmanship of the Prime Minister, will hold regular dialogue between the government and the private sector.
In the meeting, Finance Minister Dr Prakasharan Mahat said it is not fair to say that the loan will not be paid. He however said some measures could be taken through the Nepal Rastra Bank for facilitating the payment process.
