Upcoming budget will focus on economic growth

KATHMANDU, June 6: 

Finance Minister Barsha Man Pun on Tuesday said the government was preparing to formulate the upcoming budget that would lay foundation for the double digit economic growth for coming years.

Pun also urged the financial sector to come up with the programs that support the government to implement programs to achieve the higher growth target. 

“Since we have to set target to achieve double digit growth within few years, our policies and programs should head toward that direction. This year´s budget will also be concentrated to set a base to this end,” said Pun, speaking at a function after inspection of NIDC Development Bank in Durbar Marg, Kathmandu.

He also opined that new found political achievement cannot be sustained without economic prosperity in the county.

Stating that political interference in the past created problems in NIDC Bank, he expressed commitment to keep the bank free from political influence to ensure its independent functioning. 

“The bank suffered financial problems due to political interference in the past. I assure you of no more political influence in the bank,” he said. He also urged the bank management to become more professional for successful functioning of the bank. 

Finance Secretary Krishna Hari Baskota urged the banks to reach out to the rural people.

Stating that the bank is one of the leading development banks in the country, Shanta Bahadur Shrestha, chairman of the bank and joint-secretary at Finance Ministry, expressed commitment to upgrade the bank to a class ´A´ development bank.