The Interest Rate of Banks is Decreasing Gradually: Said, Finance Minister Mahat

Kathmandu : Finance Minister Dr. Prakasharan Mahat said that the economy of Nepal is moving towards a positive path. In a program organized on the occasion of the 15th anniversary of the Nepal Economic Journalists Association (NAFIJ), Finance Minister Mahat said that tourist arrivals and remittance inflows have increased and real estate transactions are also returning to normal.

According to Finance Minister Mahat, although problems such as natural disasters and epidemics occur from time to time, the economic growth rate should be increased by addressing them. He claimed that the problem in Nepal’s economy did not come suddenly, but the problem has been increasing for years.

He said, ‘Tourist arrivals and remittances have increased. “There was a problem in the economy when there was a lot of investment in real estate,” he said. Now it has been resolved.

Mahat also said that banks’ interest rates are decreasing. “Banks’ interest rates are gradually decreasing,” he said.

Mahat says that as the economic indicators are getting better, confidence is needed in Nepal’s economy and its environment should be created. Finance Minister Mahat said that the economic projections of the World Bank and the Asian Development Bank also show that Nepal will achieve 4 percent more economic growth.

“There is increasing interest in the issue of Nepal in the international arena,” Finance Minister Mahat said.

He said that an investment conference will be held in the coming February-April to attract foreign investment. He claims to hold a conference to bring foreign investment in coordination with the private sector and non-resident Nepalese association.According to Mahat, the main 4 sectors of Nepal can make the economy sustainable. “In the hydropower sector, which started with 2-3 megawatts, now the private sector alone can build up to 2-3 megawatts,”  said, Finance Minister Mahat, hydropower has become a kind of ecosystem and the World Bank has shown readiness to proceed with the Upper Arun Javi project costing 1.7 billion rupees.

Nepal has made good progress in the field of information technology,” he said. “The government wants international companies to open centers in Nepal to promote the IT sector.”

Mahat says that the tourism sector is another option for Nepal’s investment and economic development.