The Role of Deposit and Fund Protection is Important: Ministry of Finance Dr. Mahat

Kathmandu: Finance Minister Dr. Prakash Sharan Mahat said that the deposit and credit protection scheme can play an important role in turning the negative cycle in the economy into a smooth one. Addressing the 50th anniversary program of cources, Minister Dr. Mahat said, “For this, the private sector should also spread positive vibes.”He said that there are problems in the economy, but those problems are gradually decreasing. Minister Dr. Mahat said, “The government will not allow the facilitation work to be reduced to solve the problem. “The government will remove the difficulties, some of them have already been removed or reduced.

Tourist arrivals are increasing. Foreign exchange reserves, remittance flows are increasing. Resources are coming to the economy, but it is not running’, he said, ”There is a widespread flow of insecurity about what to do with the money that is in hand. The economy is bad now is not the right time to spend, let’s not invest. We have to put an end to the negative circular that says that banks should not invest, accumulate or keep money. it should end those of trends.

Now there is resource in the economy when it is running economic activity will increase Minister Dr. Mahat said. ‘When economic activity will increases employment also increases.

The pressure on the revenue will end. If the pressure on the revenue is reduced the investment will increase as expected.

It is providing security for the amount of 12.88 billion in 4.18 million deposit accounts. About 1.7 million fund are being protected by the minister Dr. Mahat said. He said, ‘Its reach is expanding. It has provided protection from small entrepreneurs to common depositors. It has expanded the working area of ​​the banks and financial institutions of credit protection such as micro finance and underprivileged credit protection, agricultural credit protection to reach the lower classes who are in remote areas.

“It has expanded the services of programs such as agriculture-led information, foreign employment, and startup employment brought by the government at different times,”Minister Dr. Mahat said, ‘When we invest, of course it is risky. The role of credit protection fund is important in various ways to minimize that risk. The more the risk of small entrepreneurs can be reduced, the more the economy will run, the more jobs will be created.

Minister Dr. Mahat said, “Small loans are provided, small industries are established. It creates more jobs. Scattered small businesses create many jobs. Common people get this job.

This is the time of change, new technology is being developed. We are talking about digital accounting. The revolution that has come in IT has reduced the cost of the transaction, Minister Dr. Mahat said, ‘We need to accept this. Credit Protection Fund will play a leading role in this work. The government believes that it works on the basis of high professionalism. Its services should be expanded.