Sunday, 1st March 2015

Economic revolution political parties’ responsibility: FM Koirala

Privacy Policy

Minister for Finance, Shanker Prasad Koirala has said that the elected political parties now have the responsibility to taking the country towards economic revolution as the incumbent government has fulfilled its duty of holding election to the second Constituent Assembly (CA).

Addressing the 47th anniversary of the Agricultural Development Bank (ADB) in the capital on Tuesday, Minister Koirala said that the political parties should now be engaged to fulfill the agendas of economic growth and revolution as the country has already got rid from transition.

Stating that expansion of the agriculture sector was necessary to improve livelihood of people by increasing economic growth, he said the government has been working as the captain to make the import-oriented economy as export oriented one.

Koirala said that a policy of handing over the government's share will be formulated to make the Bank further autonomous, saying they have a policy of zero intervention in banks.

Similarly, Governor at the Nepal Rastra Bank, Dr. Yubraj Khatiwada, said that the role played by the government for the protection and promotion of the ADB would not be taken as intervention as capital of the government has been invested in it, but stressed the need of its commercialization.

Likewise, President of the Bankers' Association, Rajan Singh Bhandari, said that investment growth would help increasing economic growth and employment.

Chief Executive Officer at the ADB, Tej Bahadur Budhathoki, said that the authorised capital of the bank has reached Rs 13 billion, Rs 9.63 billion paid-up capital, Rs 1.33 billion operational profit and Rs 2.25 billion net profit.

On the occasion, Minister Koirala honoured former Chairman Devendra Pratap Shah, General Manager Ram Chandra Maharjan and Chief Executive Officers including Shyam Singh Pandey as well as 107 employees were awarded with the Long-Service Medal.

Similarly, 60 different best performing employees were also awarded with Rs 5,000 each.

Representatives associated with different employee's unions of the bank stressed the need of taking initiatives for the capacity building of the employees at the bank and for the autonomy of the bank.