Kathmandu. Secretary of the Ministry of Finance, Dr. KATHMANDU: Finance Minister Ghanashyam Upadhyay has said that good governance and reform of financial sector was in the top priority of the government for the overall economic improvement of the country. He said this while participating in the preliminary discussion on the bill designed to amend the Nepal Rastra Bank Act, 2058 in the meeting of the Finance Committee of the House of Representatives on Friday.
Secretary Upadhyay He pointed out the need to amend the Act to address the opportunities and challenges brought about by the new governance structure adopted by the country since 2058 BS and development in the information technology sector. He stressed the need for more clarity and innovative provisions in existing legal provisions to move the NRB ahead as a strong and effective regulatory body.
Secretary Upadhyay said, “Overall economic reform is the priority of the government and good governance and reform of the financial sector is also a major priority.” It has become necessary to clarify some provisions in the Act and incorporate some new provisions in order to develop the NRB as a more capable and effective regulatory institution to address the new governance structure that has emerged after 2058 BS, the rapid development of information technology and the new opportunities and challenges emerging in the financial sector. ’
He also pledged to furnish clarification on the amendment proposals presented by the lawmakers and the Nepal Rastra Bank in the upcoming discussions.
