Finance minister pledges transparent, result-oriented CIT investments

KATHMANDU: Finance Minister Dr Swarnim Wagle has stated that investments made by the Citizen Investment Trust (CIT) will be rendered transparent and result-orientated.

Addressing queries raised during the theoretical discussion on the 'Citizen Investment Trust (Third Amendment) Bill, 2083' in the House of Representatives, Minister Wagle stressed that such trusts must be mobilised in a secure and result-orientated manner to balance internal and external resources.

He clarified that the government must remain serious regarding risk management concerning the extent to which public funds – created by depositing the public's savings – can be made flexible in situations where national savings fail to cover requirements.

Highlighting that the CIT manages savings of around Rs 337 billion, parliamentarians urged that the trust be kept safe, transparent, and result-yielding.

Clause-wise discussions will now be held in the parliamentary committee concerned on the basis of amendments registered to the bill by lawmakers.

Several lawmakers, including Sushil Khadka, Krishna Hari Budhathoki, Nitima Bhandari Karki, Madhav Bahadur Thapa, Sitaram Sah, Prabha Dhakal, Janak Singh Dhami, Pukar Bam, Amrita BK, Radhika Ramtel, Devraj Pathak, and Balawati Sharma, participated in the parliamentary discussion.

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