Kathmandu. The 32nd anniversary celebration program of the Citizens Investment Fund has been completed. The fund celebrated its annual festival under the chief hospitality of Finance Minister Janardan Sharma Prabhakar.

The chief guest of the program and Finance Minister Sharma said that there was a great need for investment in the current situation and stressed on the need to move the fund forward more effectively. He also suggested investing in the deposit-producing sector in the fund for economic development.

Speaking on the occasion, Executive Director of the Fund Raman Nepal expressed his commitment to give high priority to the field of infrastructure development in the coming days. In the annual celebration ceremony, the fund has awarded long service medals to the employees who have completed 20 years of service. Also honored are the former chairpersons and operators who have contributed to the fund.

Currently, there are more than 800,000 participants in 12 programs of Citizens Investment Fund. The paid up capital of the fund, established with the share investment of the government, private sector and the general public, has reached Rs. 3.27 billion. Similarly, the net reserve fund of the fund till mid-February of the current Fiscal Year is Rs. 184.90 billion. During this period, the fund has invested Rs. 183.91 billion.

A citizen stock dealer company has been established and has come into operation with the objective of attracting institutional investment in the capital market of the fund. The company owns 51 percent of the fund, while the reinsurance company owns 10 percent and Nepal Telecom owns 9 percent. The remaining 30 percent has been allocated to the general public. Citizen Stock Dealer is the first stock dealer in Nepal to make a significant contribution to the development, expansion and credibility of such capital market. IPS.