By spreading confusion in the financial sector, political objectives will not be achieved: Finance Minister Dr. Mahat

Kathmandu: Finance Minister Dr. Prakashsharan Mahat has said that recently there is an attempt to bring about an external crisis by spreading the rumor that this bank is going bankrupt. Dr. Mahat addressing the 4th National Microfinance Members’ said that in Conference, ‘I would like to warn on behalf of the government, we will not be delay to take action against such a tendency under any circumstances.’

He made it clear that if someone thinks that political objectives can be achieved in the society by giving wrong messages, spreading confusion and creating chaos, then it will not succeed. He said, ‘The state cannot tolerate that tendency, I warn. It is an attempt to lead savers, investors and the economy as a whole to deviation, this is not possible.

The issue of how to make micro finance healthy is now a matter of interest to everyone. Mahat mentioned. Efforts are being made to fulfill political objectives by taking advantage of the deviations and problems seen in microfinance recently.

Those who have taken loans from micro finance and cooperatives are being tried to be used. This is a very dangerous trend. Mahat mentioned. “This dangerous trend cannot be ignored by the government and all the savers connected to microfinance should counter it together,” Minister Dr. Mahat said, at the same time, microfinance should be healthy, transparent and focused on the poor and disadvantaged. Microfinance should not leave its original purpose.

Microfinance should not be used as a profit-making tool. Minister to discourage those who want to take advantage. Mahat insisted. He said that it is the duty of all of us to protect the deposits of those savers who saved in small microfinance after relieving their suffering.

After taking the loan, the obligation to repay must be fulfilled. Those who have acted contrary to the purpose, misused, and tried to gain personal benefits in an opaque manner by becoming the operators of microfinance should be discouraged by all of you together,” Minister Dr. Mahat said.

After the change in 2046, microfinance flourished. The role of microfinance and cooperatives in poverty alleviation is important. The problem has arisen in the cooperative because it has gone beyond the objective. But because it is under the direct supervision of the National Bank, the work has started to bring microfinance back to its old rhythm.

We should advance microfinance as a means of empowering and uplifting poor citizens and women.

There is no need to pay the loan, we will arrange everything, we are assured that you will help us. An attempt is being made to play on the feelings of the debtor. It is necessary to tear it down, Minister Dr. Mahat said, “The loan cannot be waived by taking away the investment of the savers.

 The state is not in a position to give more subsidies. That’s why you have to be aware and fulfill whatever obligations you have. The state can facilitate to extend the time to repay the loan and reduce the interest.The National Bank has also introduced such a policy. However, we have to expose the trend of not having to pay, the intention of this trend.