Govt committed to resolving economic problems: Minister Mahat

KATHMANDU: Finance Minister Prakash Sharan Mahat has said the government is committed to resolving economic problems. At a meeting held with a delegation of Economic Media Association Nepal (EMAN), at the Ministry of Finance on Sunday,  the minister informed that efforts were underway to bring economy on the right track. "The government is focused on addressing the economic problems immediately to give a positive message. Investment, interest rate, capital market and problems of private sectors are pressing issues to address," he shared and admitted that revenue collection declined due to foreign and domestic problems. Nepal's revenue collection is largely dependent on customs, and there was ban on imports this year, which dented the revenue target. Although there is problem with current spending, other economic indicators including foreign currency reserves were positive. The Ministry is striving to create harmony between monetary policy and economic policy with the cooperation of Nepal Rastra Bank, said Mahat. He however said the government's liability as spending on salary, allowance, education and health could not be compromised. According to the Minister, social security spending can be increased once the revenue is increased. Promotion of domestic and foreign investment is imperative, he opined. READ ALSO:

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