Country's economy heading towards positive direction: Finance Minister

Kathmandu, Aug 29: Finance Minister Dr Yuba Raj Khatiwada has said that positive impact have been seen in the economy as the government has pursued policies and laws and works by keeping economic prosperity at the centre.

Responding to the questions of lawmakers in the meeting of the House of Representatives today, he said the government has also kept the economic diplomacy at the centre and focused its activities on the basis of the same. International conferences like the Investment Conference have also contributed to making the positive environment, he opined.

The Finance Minister stressed that the constitution has incorporated the three-pillar economy comprising the public, private and the cooperatives and has also given specific role to the private sector as well.

He maintained that technology handover has taken place from the banks and financial institutions under foreign ownership and this has also played a role in producing skilled human resources, adding that one should not harbor the sense that the foreign-owned institutions are only bad.

Although foreign-owned, these institutions (banks and financial institutions) have been operated as per the Nepali laws, procedures and priorities.

Finance Minister Khatiwada said that the banks and financial institutions have been making preparations to provide the concessional loans announced by the government.

He stated that the amount committed by several donor agencies including on the topic of post-earthquake reconstruction has not been made available due to the conditions placed by these agencies.

Prem Suwal, Ram Bahadur Bista, Mahesh Basnet, among other lawmakers, had put questions to the Finance Minister on the occasion.

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