Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

Finance Minister Denies Interference with NRB’s Autonomy

  3 min 26 sec to read
Finance Minister Denies Interference with NRB’s Autonomy
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

July 30: Finance Minister Janardan Sharma has clarified that he has not interfered with the autonomy of Nepal Rastra Bank, which is an autonomous body.

While there are rumors that the finance minister has stopped the monetary policy to be brought by the central bank, minister Sharma said that he has suggested the NRB to decide what kind of policy to bring, and when and how to bring it.

Even after the 14 days of the current fiscal year, the central bank has not been able to bring the monetary policy. There has been a rumor of the finance minister’s interference in this matter. However, minister Sharma clarified that the NRB is an autonomous body and it will decide when to bring the monetary policy.

In a meeting with officials of the Nepalese Association of Financial Journalists (NAFIJ) on Thursday, Sharma said, “I have asked the governor not to raise interest rates again.”

He said that he has directed the central bank to create a stress-free environment.

“The monetary policy should not create problem for the general public. I have not given any suggestions besides that. I have not halted the monetary policy,” he said,  adding, “NRB is an autonomous body. I told the governor that you are the head of it and only suggested that you have the responsibility to decide when and how to do it.”

In addition, he said that he will not make the economy problematic by stopping the monetary policy. “I have asked him to introduce the monetary policy in a way that it does not hamper the people and the economic activities,” he added, “Saying this is my responsibility.”

Stating that the problem of Covid-19 has not only hampered business environment but also the life of the general public, Minister Sharma said that this problem can be resolved only if all the stakeholders are serious about the problem.

Minister Sharma has also requested the media to disseminate factual news after proper verification. He also stated that this tenure has been a challenge for him and an opportunity for the people. Sharma said, “I am ready to face any challenge to make this opportunity fruitful for the people.”

Earlier, Finance Secretary Shishir Kumar Dhungana said that suggestions from media persons would help in formulating a fact-based policy. He said that although the economy has not yet improved, there are some good aspects including foreign exchange reserves and savings. 

 

 

 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.