April 18: Finance Minister Dr Prakash Sharan Mahat has said that the government and the private sector should work together to overcome the problems seen in the country's economy. During a meeting with the newly elected officials of the Federation of Nepalese Chamber of Commerce and Industry on Monday, Finance Minister Mahat said that the government needs the support of the private sector to improve the economy.

"At present, the economy is under pressure. But we have not reached the point where nothing can be done. There are some problems and disruptions which should be removed collectively by government and the private sector,” Minister Mahat said, adding, "The leadership of the Federation has passed into the hands of bankers. You are knowledgeable about the financial system of the country. Let's take the initiative to solve it.”

 He added that it is time to help each other in this difficult situation.

Finance Minister Mahat further said that “nobody needs help in an easy situation”.

He was of the view that help should be provided in difficult times. He admitted that the government was not able to work as it should done when the economy slowed down.  

“I am ready to accept this reality. We have to improve everything. We have said many things in terms of policy, but we have not been able to implement them in practice,” he added.

Finance Minister Mahat said that held formal and informal discussions with the leadership of Nepal Rastra Bank on the same issue.

“The economic index will now be positive. Multilateral lenders, including the International Monetary Fund, have always been interested in Nepal's monetary policy, and based on their advice; initiatives have been taken to amend the old policies.”

During the meeting, Finance Minister Mahat congratulated the newly elected officials of the Federation and wished them a successful tenure.