Finance Minister urges consensus on economic agenda
Finance Minister Dr Ram Sharan Mahat has said that there is a need of common agenda on economic development, based on political consensus.
Speaking at the inaugural function of Global Bank Limited's corporate and main branch office at Kantipath on Monday, Dr. Mahat said economic development should be the top most priority at a time when all major political forces have come together with a dream of creating a new Nepal.
He also alleged that the tendency among promoters to misuse funds of one's financial institution was a major cause behind deteriorating financial condition of some of the commercial banks.
"Most of the promoters of financial intermediaries consider the money deposited by customers as their own property and use it imprudently," he added.
Speaking at the same programme, governor of Nepal Rastra Bank, Bijaya Nath Bhattarai expressed serious concern over increasing non-performing loans (NPL) in the banking system.
He further said that the government is closely scrutinizing the day to day works of the financial intermediaries to ensure that the NPL remains within manageable limit and was making efforts to recover loans from willful defaulters.
“Many willful defaulters are living a lavish lifestyle on the money of common people, who have deposited money at various banks. They (defaulters) are not willing to repay,” he added.
Central member of CPN-Maoists, Dina Nath Sharma, pointed out the need for maintaining a fiscal discipline by political parties, too, which should then be reflected on economic policies.
Global Bank has entered as19th commercial bank of the country, having the largest paid-up capital among private commercial banks, and began its operation two weeks ago at Birgunj.
The bank’s paid-up capital stands at one billion rupees while its authorised capital is two billion rupees. nepalnews.com pb Jan 16 07
