November 22: In a bid to improve the nation's economy, the government has announced a series of measures after a comprehensive evaluation of the current economic conditions and extensive consultations with stakeholders, including representatives from the private sector.

A key decision has been made to streamline the repayment of loans for businesspersons facing challenges in meeting interest payments promptly.

Simultaneously, a thorough examination of bank interest rates is set to take place. Prime Minister Pushpa Kamal Dahal 'Prachanda' started discussions that culminated in the establishment of a specialized mechanism dedicated to overseeing financial cooperatives.

Additionally, a cooperatives fund is slated to be instituted, aimed at safeguarding the savings of depositors.

The Office of the Prime Minister and the Council of Ministers disclosed that recommendations from a commission tasked with tax system reform will guide efforts to enhance the revenue structure.

The government has committed to prioritizing major infrastructure projects, including the Budhigandaki Hydropower Project, Nijgadh International Airport, Karnali-Chisapani, Upper Arun, and three cricket stadiums. Outstanding payments owed to contractors involved in these projects will be expedited.

Following today's discussions, Prime Minister Pushpa Kamal Dahal instructed ministers and secretaries to earnestly focus on increasing capital expenditure.

Moreover, a high-level commission dedicated to government reform and the promotion of good governance will be established. The Industry and Commerce Promotion Dialogue Council, chaired by the Prime Minister, will facilitate regular dialogues between the government and the private sector.

Addressing concerns about loan repayment, Finance Minister Dr. Prakasharan Mahat emphasized that it would be inaccurate to assert that loans will not be repaid. He clarified that measures, facilitated through the Nepal Rastra Bank, will be explored to ease the loan repayment process. (RSS)