Monetary policy should not be too tight to keep economy running: PM Oli

KATHMANDU: Prime Minister KP Sharma Oli has stated that a new government has been formed to address the problems being faced by the country and to implement some changes.

In a meeting with the office bearers of the Confederation of Nepalese Industries (CNI) today, Prime Minister Oli asserted that having previously served as prime minister, he did not return to the role merely for the position. He said, "Solving the existing problems and strengthening the economy is the main goal of the current government. I did not come only to become the prime minister; I came with the determination to solve the problems in the country and work for change. Therefore, the private sector should trust and work together with this government."

Expressing the view that tax rates should not be changed arbitrarily, he said the private sector should protest when the government adopts wrong policies. He emphasised that monetary policy should not be too tight to keep the economy running.

On that occasion, CNI President Rajesh Kumar Agrawal suggested that the government should prioritise boosting the economy, which has been sluggish for the past three years. While the external sector is encouraging, the productive and construction sectors are more affected. Agrawal emphasised that the morale of the private sector should be increased, illustrating that the national economy is still in trouble. He added that monetary policy should make the lax economy viable.

CNI Immediate Past President Vishnu Kumar Agarwal, former presidents Satish Kumar More and Hari Bhakta Sharma, vice presidents Nirvana Chaudhary, Birendra Raj Pandey, Raj Bahadur Shah, Amit More, Bhim Ghimire, and Governing Council members Shivartan Sharda, Yogeshwar Lal Shrestha, Balkrishna Shrestha, and others discussed the current state of the economy with Prime Minister Oli and suggested reforms.