”There is no need to panic as investment in transport infrastructure and electricity is increasing. The National Bank is making efforts to address problems in all sectors.”
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Nepal Rastra Bank Governor Bishwaraj Poudel has said that the country's economy is gradually returning to normal.
Speaking at a program organized in Birgunj on Friday evening to interact with stakeholders on the topic of ‘Center for Economic Transformation and the Role of Nepal Rastra Bank in Madhesh Province’, he said. ‘There is no need to panic as investment in transport infrastructure and electricity is increasing,’ he said. ‘The Rastra Bank is trying to address problems in all sectors.’ Governor Poudel said that the economy is currently lacking confidence or morale rather than resources.
In a separate context, he also directed banks to extend loans to small and inaccessible communities and to improve relations with the private sector. Stating that getting loans for business is everyone’s right, he said that there should be no situation where anyone has to beg for loans. He said that there are new opportunities in the tourism sector in Madhesh Province and more effort is needed in that.
Birgunj Chamber of Commerce and Industry President Hari Gautam complained that despite increased liquidity in banks, small and medium entrepreneurs are not getting loans. He alleged that loans are limited to the reach of big lenders, while small entrepreneurs are ignored. Former president of the association, Ashok Baidya, said that there is a crisis of trust between the government and the private sector and it needs to be ended. Prime Commercial Bank Chief Surya Prasad Tiwari said that banks are also facing serious challenges in recovering loans in the post-Covid situation.
In a program chaired by Sushil Poudel, Director of Nepal Rastra Bank Birgunj, Professor Dr. Ram Sharan Kharel, Research Director of Nepal Rastra Bank, made a presentation on the current economic situation and the role of monetary policy, saying that the economy is currently in a favorable situation.
