FinMin vows to up private sector's confidence

KATHMANDU, APRIL 4: Newly-appointed Finance Minister Dr. Prakash Sharan Mahat has started consultation with the stakeholders to take stock of the current situation of the economy. On Monday, Minister Mahat held discussions with the Nepal Bankers' Association and Capital Market Forum of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI). After the talks with the stakeholders, Minister Mahat expressed the commitment to uplift the confidence level of the private sector and address the challenges seen in the economy.

On the occasion, Dr. Mahat said that he would take steps after taking feedback from all sides and would continue consultations with the stakeholders, Finance Minister's Secretariat said. After the meeting with the representatives of the Federation and Association, Finance Minister Mahat directed the Securities Board of Nepal to work to ensure positive results in the capital markets within some days. On Monday itself, Finance Minister Mahat summoned a meeting of the Central Revenue Leakage Committee. The Home Secretary, Chief of Nepal Police, Chief of the Armed Police Force, Nepal, Chief of the National Intelligence Department, Director General of the Inland Revenue Department, Director General of the Customs Department and officials from different other agencies were present at the meeting.

In all the meetings, Minister Mahat said that his first priority and commitment was to revitalize the troubled economy while adding that he would move ahead through cooperation and coordination with the private sector. "I will not let your morale go down. I will be in regular consultations with you. I have expected full support from you to translate my commitments to reform the economy," the FNCCI  quoted the minister as saying.