FNCCI delegation meets newly appointed Finance Minister Mahat

KATHMANDU: A delegation of officials from the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) held a meeting with the newly appointed Minister for Finance Prakash Sharan Mahat, at the latter's office in Singha Durbar, Kathmandu, on Sunday. Mahat was appointed as Finance Minister on Friday. On the occasion, FNCCI President Shekhar Golchha, on behalf of the entire private sector, congratulated and extended wishes to the newly appointed finance minister. Golchha also gave a briefing on the present situation of the economy. During the meeting, FNCCI President Golchha opined that the interest rate should be reduced by injecting liquidity into the market. He suggested that the central bank and the government should take a joint initiative to reduce the interest rate by providing liquidity. He also emphasized advancing the work by increasing liquidity in cooperatives and microfinance. Golchha suggested increasing the government expenditure which is currently at about 24%. He said it is difficult to meet current expenses since the government has less revenue.  Further, he suggested the government take external loans and spend them on development works In the meeting with the newly appointed Minister of Finance, FNCCI President suggested that the illegal imports rampant in the border areas should be controlled for revenue growth. He said initiatives should be taken with donors to bring in money from abroad and also urged Minister Mahat to hold a conference with local donors as well. Golchha stressed that the government should deliver messages to encourage the private sector rather than creating panicking situation under the pretext of raising revenue. On the occasion, the finance minister assured that he will move forward with the suggestions and cooperation of the umbrella organization of the private sector. He expected to get full support from the private sector to fulfil the commitment to improve the economy. READ ALSO:

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