Finance Ministry consults bankers for planning budget

March 29, Kathmandu: The Ministry of Finance on Monday held discussions with the stakeholders from the bank and financial institutions, and the insurance sector to solicit their feedback on the policy and programs, and budget for the upcoming fiscal year.

At a meeting convened at the Ministry of Finance, Minister for Finance Janardan Sharma said the meeting was aimed at receiving comments on different aspects of the economy.

On the occasion, Sharma asked whether it was good for the economy for the same individual to be a banker and also a businessperson.

“Same individual or group is seen in bank and business. Is this a good practice? Provide me some suggestions if some amendments were needed in this,” the finance minister stated. He also shared his idea of building a microfinance fund to provide concessional loans to the general people.

Minister Sharma also expressed his reservation about the existing system of depositing and withdrawing money in the banking system.

“We have problems both in depositing and withdrawing money. My study has shown a huge amount of money is stocked at home,” he added.

It was a matter of concern that the money has not been returned to the system, the Finance Minister said while calling on the BFIs to run their activities in a transparent way.