Monetary policy will be aligned with policies and programmes, and budget: Minister Pun

KATHMANDU: Finance Minister Barsha Man Pun has assured that the government will not undertake any actions that could deter the private sector.

Speaking during discussions held today at the Ministry of Finance to gather suggestions from representatives of banks and the finance sector for the next fiscal year's budget, he encouraged the private sector to invest with confidence, stating that the government also acts as its guardian.

"The government agencies will not do anything to harass or discourage the private sector. On the contrary, the government promotes and facilitates the private sector," he asserted.

Minister Pun shared on the occasion that the monetary policy will be aligned with the policies and programmes, and budget of the government for the coming year, stating that discussions are being held with Nepal Rastra Bank for the same.

"The government and the regulator are the State itself. The purpose and policy of the state are the same. Harmony will be maintained in policies and programmes, the fiscal policy and monetary policy," he said.

The Finance Minister noted that the economy is more vibrant this year compared to last year and he is preparing to present a budget that will make it even more vibrant than the current fiscal year.

Pun also stated that collaboration will be made to achieve certain goals of the State within the policies specified by the constitution.

"Everyone's emphasis is to promote, facilitate and boost the morale of the private sector by staying within the economic policy specified by the constitution and discussions and consultations are being held among the stakeholders for that," he said.

He made it clear that the policies that are benefiting the economy will be continued. The Finance Minister also urged the private sector to express its views without any inhibition as the State is the guardian of the private sector.

Noting that the economic policy should be in accordance with the country's situation, Minister Pun mentioned that information technology (IT) is an area that needs to be promoted immediately according to the geo-political situation of Nepal.

"According to our geographical situation, we believe that when we focus on the IT sector, it will create a large number of employment opportunities and investment will be more likely. We have thought of promoting the IT sector through the budget," the Finance Minister said.

He said that priority will be given to energy, tourism, agriculture, large and medium infrastructure sectors in the same budget.