Finance Minister calls on Nepal Rastra Bank to take active role in economic transformation

Kathmandu: Finance Minister Dr Swarnim Wagle has called on the Nepal Rastra Bank to play a more active role in the country’s economic transformation, beyond its traditional function as a regulator.

Speaking during a meeting with the central bank’s executive directors at the Ministry of Finance today, Finance Minister Wagle said Nepal Rastra Bank should serve as both a regulatory institution and a partner in implementing the government’s economic reform agenda.

He said the discussions would be translated into concrete action plans, adding that a joint task force could be formed to strengthen policy coordination and speed up decision-making if needed.

The Finance Minister said Nepal currently has a unique opportunity for reform, with political commitment, a stable economic foundation and a private sector ready to invest. He stressed that if the government, the central bank, the banking sector and the private sector work together, Nepal’s economic transformation can move from vision to implementation.

Minister Wagle also urged the executive directors to recommend policy measures to support the government’s reform programme, particularly to increase the flow of credit to productive sectors.

He emphasized that regulation should promote, rather than hinder, innovation and productive economic activity, saying greater confidence among state institutions would also strengthen confidence in the banking system and the private sector.