KATHMANDU: The Management Association of Nepal on Thursday held a discussion programme on the Monetary Policy for the fiscal year 2023/24.
Nepal Rastra Bank Governor Maha Prasad Adhikari was the chief guest at the programme. The discussion also saw a gathering of former governors of the central bank. The programme was held to provide suggestions to the central bank on the Monetary Policy for the next fiscal year, which could be announced by the third week of July.
[caption id="attachment_38129" align="alignnone" width="1000"]
Nepal Rastra Bank Governor Maha Prasad Adhikari inaugurates a programme organised by the Management Association of Nepal in Kathmandu to discuss Monetary Policy for the fiscal year 2023/ 24, on Thursday, June 15, 2023. Photo: Sanjay Maharjan/Media9[/caption]
Addressing the programme, Governor Adhikari sought suggestions from private sector representatives for the Monetary Policy for the upcoming fiscal year. He mentioned that he would try to incorporate the suggestions as much as possible and as long as they were feasible. Governor Adhikari shared it was not only Nepal that was facing a tough economic situation. "Other countries too are facing an economic slowdown," he said.
[gallery link="file" size="full" ids="38128,38132,38131"]
Governor Adhikari said he has focused on drafting the Monetary Policy in such a way that it will help the economy come out of the near stagflation situation that the country is witnessing at present. He assured that the central bank will introduce private sector and investment-friendly policies and provisions. The current economic problem has arisen due to slackness in monitoring and supervision in the previous years, and the central bank will now do all it can to right the situation, according to NRB Governor.
[gallery columns="2" size="full" link="file" ids="38126,38125"]
While talking about the cooperatives sector, Adhikari mentioned that Nepal Rastra Bank will not be regulating the sector anytime soon. "However, we have formed a committee to conduct a study on the overall scenario of the microfinance institutions of the country and will come up with rules for the sector," he added.
Former governors who were present on the occasion also provided suggestions to the central bank based on their own experiences while leading the central bank.
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Nepal Rastra Bank Governor Maha Prasad Adhikari inaugurates a programme organised by the Management Association of Nepal in Kathmandu to discuss Monetary Policy for the fiscal year 2023/ 24, on Thursday, June 15, 2023. Photo: Sanjay Maharjan/Media9[/caption]
Addressing the programme, Governor Adhikari sought suggestions from private sector representatives for the Monetary Policy for the upcoming fiscal year. He mentioned that he would try to incorporate the suggestions as much as possible and as long as they were feasible. Governor Adhikari shared it was not only Nepal that was facing a tough economic situation. "Other countries too are facing an economic slowdown," he said.
[gallery link="file" size="full" ids="38128,38132,38131"]
Governor Adhikari said he has focused on drafting the Monetary Policy in such a way that it will help the economy come out of the near stagflation situation that the country is witnessing at present. He assured that the central bank will introduce private sector and investment-friendly policies and provisions. The current economic problem has arisen due to slackness in monitoring and supervision in the previous years, and the central bank will now do all it can to right the situation, according to NRB Governor.
[gallery columns="2" size="full" link="file" ids="38126,38125"]
While talking about the cooperatives sector, Adhikari mentioned that Nepal Rastra Bank will not be regulating the sector anytime soon. "However, we have formed a committee to conduct a study on the overall scenario of the microfinance institutions of the country and will come up with rules for the sector," he added.
Former governors who were present on the occasion also provided suggestions to the central bank based on their own experiences while leading the central bank.
READ ALSO:
Published Date: June 16, 2023, 12:00 am
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