‘We worked tirelessly to restore economy to normality,’ says ex-minister Mahat

LALITPUR, MARCH 13: Former Finance Minister Prakash Sharan Mahat stated that he had made relentless efforts to restore the economy to normality during his tenure.

At a press conference held at the Nepali Congress Central Office in Lalitpur yesterday, he, who is also the party’s spokesperson, clarified that the economic indicators were not negative and that he had worked diligently to maintain this.

“When I assumed the role of Finance Minister, the country’s economy was under strain. We worked tirelessly to restore the economy to normality. The statistics published by Nepal Rastra Bank, Asian Development Bank and World Bank also corroborate this,” he emphasised.

He shared that the inflation rate, which was 8.5% when he took office, has now been reduced to 5%. He added that the interest rates of banks have been decreasing recently due to a liberal monetary policy aimed at resolving issues in the country’s economy.

He highlighted that a 10% increase in revenue collection compared to the previous fiscal year was satisfactory. The former Finance Minister mentioned that he conducted activities with an emphasis on good governance and frugality while in government.

He further stated that many investors were prepared to invest in the investment summit scheduled for April, asserting that he had undertaken activities to attract more foreign investment through the summit.

On a separate note, Mahat explained that the NC strongly supports the then-ruling alliance, and the party’s Mahasamiti meeting has also decided to continue this alliance.

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