CBFIN press to the Prime Minister for policy reforms through monetary policy

Jun Thu 2022 05:21:26


CBFIN press to the Prime Minister for policy reforms through monetary policy

Kathmandu. Operators of banks and financial institutions have taken pressure to intervene in monetary policy through monetary policy for the coming fiscal year. The delegation led by Pawan Kumar Golyan, chairman of the Confederation of Banks and Financial Institutions Nepal (CBIFIN), made the request during a meeting with Prime Minister Sher Bahadur Deuwal.

In the context of moving towards the implementation of the budget presented for the Fiscal Year 2079/80 BS and Nepal Rastra Bank is also formulating the monetary policy for the coming Fiscal Year, the policy steps to be taken to improve the current economic condition of the country were informed. During the meeting, Sibifin also presented suggestions from a study on banks and financial institutions prepared in collaboration with senior economists and banking experts.

Pawan Kumar Golyan, Chairman of CBIFIN, spoke on the impact of COVID-19 and various developments in the world on mitigating Nepal's economy and reviving troubled industries, upgrading domestic, small and medium enterprises, resolving liquidity problems, and managing remittances. Similarly, Bhoj Bahadur Shah, Senior Vice President and Spokesperson of Sibifin, briefed the Prime Minister on the findings and recommendations of the report.

Accepting the reports and suggestions submitted by Sibifin, Prime Minister Sher Bahadur Deuba expressed special interest in the suggestions and reports presented by Sibifin on agricultural sector reform, trade deficit reduction and import substitution measures and export-oriented goods, capital formation and mobilization for investment.