Finance Minister Wagle Announces 10 to 12 Point Special Reform Package for Capital Market

Finance Minister Dr. Swarnim Wagle has said the government will introduce a 10 to 12 point special reform package to address weaknesses in Nepal’s capital market and support its development and expansion.

Addressing the 28th Annual General Meeting of the Society of Economic Journalists Nepal (SEJON), Minister Wagle acknowledged that the capital market has slowed in recent months. He said irresponsible activities in the past had contributed to problems in the market and stressed that the government would take steps to prevent the situation from worsening.

The Finance Minister also pointed to the ongoing problems in the cooperative sector, saying the crisis has affected local economic activity. He said resolving the cooperative sector’s problems is necessary to improve economic activity at the local level.

Wagle said the government is preparing concrete measures to improve investor confidence and make the market more active. He also said that the large amount of money held by the banking sector should be directed toward productive areas rather than being concentrated mainly in real estate and the stock market. According to him, creating an environment to encourage unused funds toward production and job creation is among the government’s key priorities.

Wagle further said the government is taking policy measures to address the slowdown in the real estate and capital markets and guide the overall economy toward a stronger path. He reiterated that the government remains committed to economic improvement and strengthening confidence in the financial market.