April 18: Minister for Finance Dr Prakash Sharan Mahat stressed that that the government and private sector should collaborate to remove difficulties facing the country’s economy.

Congratulating the newly elected office-bearers of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in Kathmandu on Monday, Minister Mahat asserted that the government and private sector should support each other to overcome problems seen in the economy.

"The entrepreneurs and businessmen feel uncomfortable, difficult and pressurized at present. I understand there are some obstacles and disturbances. The government and private sector should work together to remove these hardships," Mahat emphasized. 

Minister Dr Mahat admitted that the government has not been able to deliver as it should. "We, from political leadership to bureaucracy should admit it. I am ready to admit it. We must bring about good changes in the economy. There is a challenge to increase efficiency of the country," the Minister opined.

 The Minister shared that he had held formal and informal discussions with the leadership of the Nepal Rastra Bank to revitalize the national economy. 

Dr Mahat said that the Nepal Bankers' Association(NBA) decision to lower the interest rates on deposits starting from Baisakh 1 of New Year 2080 would help ease the economic difficulties facing the country. 

"I request to the private sector to disclose the realities. I will try my best to solve your problems through monetary policy," Mahat held.