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Finance Minister Expresses Dissatisfaction over Leakage of Monetary Policy 

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Finance Minister Expresses Dissatisfaction over Leakage of Monetary Policy 
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August 17: Finance Minister Janardan Sharma has expressed dissatisfaction over the leakage of information about the monetary policy before it was made public. Minister Sharma said that he has taken the issue seriously and warned not to do such a thing in the coming days.

During the annual review of the fiscal year 2020/21 at a meeting of the  Ministerial-Level Development Problem Solving Committee on Monday, Minister Sharma said that it was not right to leak information from the table when the ministry or the concerned organization should have empowered the  spokesperson and improved the website instead.

"Leaking the monetary policy ahead of schedule is like taking out question papers before the exam. It works to demoralize the state. Stop such acts immediately,” said Minister Sharma.

Stating that the flow of information is necessary to maintain transparency, he directed to make arrangements to provide information through the spokesperson and the office's website.

Stating that the flow of information is necessary to maintain transparency, he directed concerned bodies to make arrangements to provide information through the spokesperson and the office's website.

Minister Sharma added that a policy should be formulated to create an environment to invest the capital earned from foreign employment in the productive sector.

Regarding the people’s access to banking, Minister Sharma said that it would not be possible only by opening branches in the municipalities. According to him, the government-owned banks need to open branches in every municipality.

Vice-Chairman of the National Planning Commission Dr. Viswanath Poudel stressed the need to manage sustainable resources of the economy. According to him, if the hydropower and cement industries are managed it can be a long-term resource for the national economy.

Governor of Nepal Rastra Bank, Maha Prasad Adhikari, pointed out the need to revise the concessional loan procedures, business loan procedures, and innovation procedures.

Finance Secretary Madhu Kumar Marasini said that the ministry and its subordinate bodies had done a good job amid the coronavirus pandemic. According to him, the authorities should pay special attention to meet the target of revenue collection, turn the loss-making bodies to profit-earning ones and reduce the trade deficit.

 

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