At SEJON's 29th anniversary, Finance minister urges review into failure to achieve expected economic growth

KATHMANDU: Finance Minister Rameshore Prasad Khanal has said it is imperative to conduct a serious review of why the country could not achieve the expected economic growth.

Speaking at a programme organised by the Society of Economic Journalists‑Nepal (SEJON) on its 29th anniversary and awards handover ceremony today, Minister Khanal said development and economic activity have been negatively affected by political disenchantment and instability in recent years.

“Although there is frustration towards politics, we must not forget that even individuals’ property is state property,” he said.

He added that the authenticity of information and its impact on society are matters of concern amid the rising use of technology, warning that fake information and baseless news can even strain international relations and the investment environment. The media, therefore, needs to play an important role in this regard.

“The right message helps to create positive sentiment, thereby boosting investors’ morale. Information dissemination, therefore, matters,” Minister Khanal said.

He said the government has recently sped up work on mega infrastructure projects by allocating additional budgets and vowed that issues in the capital market would also be addressed. The minister appreciated SEJON’s role in fostering debate on the national economy and promoting professional journalism.

On the occasion, Minister for Industry, Commerce and Supplies Anil Kumar Sinha said the government aims to create more jobs, promote domestic products and boost the economy. “Holding elections in a free and fair manner and ensuring good governance are equally important mandates,” he said. Minister Sinha added that the government had advanced economic activities in line with the spirit of the Gen‑Z movement.

Nepal Rastra Bank (NR) Governor Dr Biswo Nath Poudel said managing liquidity is a current challenge for Nepal’s economy. He said it was worrying that investment in infrastructure is limited despite adequate liquidity in banks and financial institutions and low interest rates.

Governor Poudel admitted there was a lack of effective enforcement of provisions in the monetary policy and said expansion of lending is essential in the agriculture, tourism, energy and manufacturing sectors. “All sectors of the economy need to perform responsibly to boost economic activity in the country,” he added.

(With inputs from RSS)