Finance Minister urges quick formulation of laws

KATHMANDU, NOV 19 -

Finance Minister Ram Sharan Mahat on Tuesday directed ministry officials to prepare a draft of the policies and laws related to economic reform as soon as possible saying that delays in formulating them would affect investment.

There are several laws the Finance Ministry needs to create including the Bank and Financial Institution Act, Nepal Rastra Bank Act and Banking Offence Act, among others.

Speaking at a meeting with the department chiefs of the Finance Ministry, Mahat also asked them to effectively implement the programmes announced in the budget.

The meeting also discussed start-up funds, adjustment of petroleum prices as per international standards, commodity markets and insurance coverage for the farm sector, among other subjects, the ministry said in a press release.

Source: The Kathmandu Post