Loans taken from banks and financial institutions must be repaid at any cost: Minister of Finance

Banking News/Finance Minister Dr. Prakasharan Mahat said that the country’s economy is becoming dynamic. He said that the country’s economy is progressing on a positive path in an interaction on ‘Role of Stakeholders in Economic Revival’ held in Kathmandu.

“In the past, a lot of money was spent on non-productive sectors, the economy was under some pressure when paying the obligation of the expenditure, the capital expenditure will now increase, it is gradually being resolved, the economy is returning to the rhythm”, he said.

Finance Minister Dr. Mahat said that the loan taken from the bank and financial sector should be paid. “Debts taken from banks and financial institutions must be paid under any circumstances”, he said. He said that the private sector, the media, the government, the civil society, and the people as a whole should work together to improve the country’s economy

He says that the economy will gain momentum only through the collective efforts of all sectors. He said that the statistics show that the economy has picked up speed recently. “We have capital, but it is a problem to spend, the expenses will increase in the future”, he said.

Executive Director of Nepal Rastra Bank, Guru Prasad Paudel said that Nepal’s economy is becoming dynamic recently. He said that while imports are gradually decreasing, remittances are also increasing.

He clarified that the type of credit that should be provided in the banking and financial sector of Nepal has not been done. He emphasized that the credit should flow to the production sector.