Kathmandu. He said that the government and banks should work hand in hand to achieve economic growth by expanding the economy. Finance Minister Swarnim Wagle said this during a meeting with CEOs of commercial banks organized by the Ministry of Finance on Tuesday.
He clarified that the ministry has been holding discussions to listen to the problems of the banks, take government initiatives to resolve them and join hands to achieve the larger goal of economic growth of the government.
Urging the banks and bankers to speak about the problems of their areas without any hesitation, he said the government would resolve the problems honestly.
“We have turned the ship of economic governance to expand the economy,” Wagle told the bankers, “The target is to make the size of the economy 74 trillion.” For this, investment should be increased. We have to create jobs. How you can help, contribute. Tell the government what needs to be done. He also questioned the bankers as to why the banks have not been able to extend loans.
‘Tell me what is the problem with the expansion of loans by the banks, if the government needs to do something. We’re facilitating. Finance Minister Wagle urged the bankers to submit the policy-level and practical difficulties facing the banks to the Ministry in an integrated manner and clarified that solution would be sought.
Speaking in the discussion, the CEO of the bank clarified that there is no truth in the rumors that there is no investment environment.
They said that the banking sector is now in a natural predicament due to some of the old regulatory remedies, but it is solvable.
There is competition among banks for investment in the hydropower sector, bankers said that there are signs of increasing demand in other sectors as well. They said that some of the facilitation works that the government and the Rastra Bank should do immediately should do will make the economy dynamic.
Machhapuchchhre Bank’s Chief Executive Officer Santosh Koirala, who is also the President of Nepal Bankers’ Association, drew attention to the need of further facilitating the increased investment in the hydropower sector. Suggesting that the government should complete big projects on time, he said that the government should work by taking small and big entrepreneurs into confidence.
Ganesh Pokharel, Chief Executive Officer of City Janam International Bank, said that the current sluggishness in the banking sector should be understood as a regular and a cycle.
Global IME Bank’s Chief Executive Officer Surendra Regmi urged the bank to address the decline in confidence of business community in the market. He said that the NRB should make policy facilitation to increase the lending capacity of the banks.
He expressed confidence that the non-banking asset management company that the government is going to establish would be opened soon.
Sudesh Khaling, chief executive officer of Everest Bank, stressed on the need to extend credit to rural and underprivileged people.
Stating that the government should increase capital expenditure, he stressed on capacity building of government offices to make the economy dynamic.
Ashok Rana, Chief Executive Officer (CEO) of Himalayan Bank, said that the investors and businessmen are eager to invest in the new fiscal year.
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