Prime Minister Balendra Shah Discusses Economic Revitalization with Nepal Rastra Bank Governor

Kathmandu. Prime Minister Balendra Shah has taken the initiative to make the national economy more dynamic, strong, and business-oriented immediately.

Prime Minister Shah, in a discussion today at the Office of the Prime Minister and Council of Ministers with Nepal Rastra Bank Governor Vishwanath Poudel, gave suggestions to adopt necessary facilitation and flexibility in the upcoming monetary policy for the overall economic development of the country, stability of the stock market, and promotion of entrepreneurship.

In the discussion that lasted for about an hour, Prime Minister Shah expressed confidence that economic confidence in the country can be boosted only through the collaboration of both the government and the central bank. During the meeting, Shah particularly emphasized that the Rastra Bank should play a parental role in keeping the morale of the general investors involved in the capital market high.

Suggesting to ease some of the restrictive or difficult provisions in the monetary policy and make the environment for investing in the stock market more conducive and encouraging, Prime Minister Shah pointed out the need for positive reforms in the entrepreneurial sector. Shah urged to ensure an environment where small and large entrepreneurs who want to create industries, businesses, and employment within the country can invest easily without any fear, and to make the bank's interest rates and loan disbursement conditions entrepreneur-friendly.

In addition, Prime Minister Shah stated that monetary instruments should be utilized in such a way that special priority is given to loan concessions for women entrepreneurs and entrepreneurs from economically and socially backward regions for the fundamental economic development of Nepal, bringing them into the mainstream of the economy.

In the discussion, Governor Poudel clarified that the Rastra Bank is committed to making the upcoming monetary policy and its work direction extremely professional, flexible, and timely. He clarified that the common goal of both the government and the Rastra Bank is to accelerate the economy, and expressed determination that the Rastra Bank will not adopt policies that inconvenience or intimidate anyone.

Governor Poudel's commitment was to fully facilitate all, from stock market investors to domestic entrepreneurs, through policy and to make the overall economy of the country dynamic.