Government will not let private sector down: Finance Minister Pun

KATHMANDU, MAY 7: Finance Minister Barsha Man Pun has made it clear that nothing would be done from the government side to discourage the private sector. Speaking during the discussions held today at the Ministry to collect suggestions from the representatives of banks and the finance sector for the next fiscal year’s budget, he urged the private sector to invest confidently as the government is also its guardian.

“The government agencies will not do anything to harass and discourage the private sector. Rather, the government promotes and facilitates the private sector,” he asserted. Minister Pun shared on the occasion that the monetary policy will be aligned with the policies, programs, and budget of the government for the coming year, stating discussions are being held with Nepal Rastra Bank for the same.

“The government and the regulator are the State itself. The purpose and policy of the state are the same. Harmony will be maintained in policies and programs, between the fiscal policy and monetary policy,” he said. The Finance Minister said that the economy is vibrant this year compared to last year, and he is preparing to bring the budget so that it will be more vibrant than the current financial year.

Pun also stated that collaboration will be pursued to achieve certain goals of the State within the policies specified by the constitution. “Everyone’s emphasis is to promote, facilitate, and boost the morale of the private sector by staying within the economic policy specified by the constitution, and discussions and consultations are being held among the stakeholders for that,” he said.

He stated that the policies that are performing well in the economy would be continued. The Finance Minister also urged the private sector to express its views without any inhibition as the State is the guardian of the private sector. Noting that the economic policy should be in accordance with the country’s situation, Minister Pun mentioned that information technology is an area that needs to be promoted immediately according to the geopolitical situation of Nepal.

“According to our geographical situation, we think that when we focus on the information technology sector, it will create a large number of employment opportunities, and investment will be more likely. We have thought of promoting the information technology sector through the budget,” the Finance Minister said. He said that priority will be given to energy, tourism, agriculture, and the large and medium infrastructure sectors in the same budget.