Kathmandu. Chief Executive Officer (CEO) of Nabil Bank, Manoj Gyawali, has said that Finance Minister Swarnim Wagle has clearly expressed his commitment to work together with the private sector to make the country’s economy dynamic.
Talking to media persons after the meeting with the chief executive officers of ‘A’ class commercial banks in the country, Gyawali said that although there was sufficient liquidity in the banking system in the country, the demand for loans was not growing as expected.
According to him, the main challenge now is to mobilize the surplus liquidity of around Rs 14-15 trillion in the banks and financial institutions.
The government has set a target to utilize available resources for production, employment and economic prosperity by collaborating with the private sector, banking system and industrialists and entrepreneurs. According to him, the discussion focused on import substitution, export promotion, expansion of investment in productive sector and improving balance in the external sector.
According to Gyawali, the Finance Minister has already held discussions with the entrepreneurs of the manufacturing industries before this. The banking sector was also consulted after reviewing the suggestions received. The chief executive officers of most of the commercial banks were present in the discussions.
He said that the Finance Minister has given a message that the government was ready to resolve the problems of the private sector. The Finance Minister said that the government was positive to carry out necessary reforms while urging them to give suggestions in case of any policy, legal or administrative obstacles.
Terming the government’s initiative of open dialogue as positive, Gyawali said it was a commendable practice to formulate policies by holding regular discussions with the stakeholders. He said the government’s commitment to implement the recommendations if appropriate would build an environment of trust.
According to him, there are about Rs 82 trillion in deposits in the banking sector, which is the biggest financial source for the country’s economy. Stating that economic growth was not possible only with limited capital expenditure of the state, he stressed the need to achieve the goal of prosperity by mobilizing all resources including banking sector, private sector and foreign direct investment (FDI).
Stating that the Prime Minister and Finance Minister have been regularly holding dialogues with entrepreneurs, entrepreneurs, contractors and representatives of private sector, he said the message has been clear that the government is trying to advance economic development campaign on the basis of suggestions and collaboration.
