“Economy is sluggish but not in crisis”

KATHMANDU, MARCH 17: Finance Minister Barshaman Pun reassured that while the country’s economy faces some challenges, it hasn’t reached a crisis point. Speaking at the 34th-anniversary program of the Citizen Investment Trust (CIT) held today in the capital, he highlighted improvements in the external sector, citing sufficient foreign currency reserves and strong remittance inflow. However, he acknowledged lingering structural issues in public finance and the negative impact of excessive publicity on market perception.

Despite positive indicators, Minister Pun expressed concern over persisting market skepticism and emphasized the need for a positive outlook to boost investment and economic growth. He pledged to continue previous positive policies and gradually ease strict measures taken during economic contraction, engaging in discussions with relevant ministries and agencies. Noting recent improvements in the stock market, he stressed collective responsibility in facilitating service delivery and called for administrative reforms.

Minister Pun urged CIT to invest its deposits in productive sectors, infrastructure projects, and job creation, emphasizing the importance of professionalism and national capital formation.

Speaking on the same occasion, CIT’s Executive Director, Parbat Kumar Karki, highlighted the organization’s role in mobilizing savings for national capital formation, focusing on profit-oriented investments, risk management, and technological advancement. He also mentioned CIT’s initiatives to support citizens working abroad and shared financial statistics demonstrating its robust reserves and investments.