Annual celebration of Citizen Investment Fund completed: 1.63 Trillion investment

Mar Wed 2021 10:14:19


Annual celebration of Citizen Investment Fund completed: 1.63 Trillion investment

Kathmandu. Revenue Secretary Ram Sharan Pudasaini said that the fund should mobilize investment in infrastructure and productive sectors. On the occasion of the 31st anniversary of the Citizens Investment Fund, Secretary Pudasaini said that it was time for the fund to do more work for the stability, dynamism and development of the capital market. He said that financial accountability, transparency, good corporate governance and implementation of attractive social security schemes were the cornerstones of the fund's progress. Similarly, the fund should work on the development, dynamism and stability of the capital market.

Prof. Dr. Ram Chandra Bhattarai, Chairman of the Board of Directors of the Fund informed that the Fund has raised Rs. 167.99 billion from the existing schemes till mid-February of the current Fiscal Year and has invested Rs. Dr. Bhattarai stressed that sustainable development and stability cannot be achieved unless the existing unemployment in the society is eradicated through high economic development.

 For this, the fund needs to work towards fulfilling the national aspiration of 'Prosperous Nepal and Happy Nepalis' by strengthening itself. He said that the success of the fund was due to the fact that the fund has been operating continuously at a profit since its inception, increasing the number of participants every year and successfully launching different types of savings schemes.

Speaking on the occasion, Raman Nepal, Executive Director of the Fund, said that the fund has been operating branch offices in Biratnagar and Pokhara outside the Kathmandu Valley for the service of the service recipients. The fund realized the need for comprehensive improvement in the existing information technology system and introduced new software.

The fund has been contributing to the country's gross domestic product by working in the areas of participatory credit, project credit, government securities and securities investment. The fund had also organized a prabhatpheri program on the occasion of the annual festival program. The winners of sports and other programs organized by the fund employees' union were awarded. Pravin Rai, Manmohan Mishra and Sirisha Shrestha have been selected as the best employees.