Kathmandu, Mar. 19
Prime
Minister Pushpa Kamal Dahal ‘Prachanda’ has said that the government would
convene a comprehensive review meeting to address the problems surfaced in
banks, microfinance and cooperative organisations in order to find a solution to
them in a package.
Addressing
a meeting of the National Cooperative Development Board at the Prime Minister's
Office on Sunday, PM Prachanda said that monitoring and regulation of financial
institutions is necessary.
"At
some point, microfinance did a very good job. Easy and simple loans were
provided to people mainly in the rural areas. However, now people have raised
many questions about microfinance," he said.
According
to him, problems are also seen in cooperatives, and it is necessary to review
them comprehensively and formulate the future policy. "That is the only
way we can formulate a systematic and scientific policy. I am thinking of
calling a comprehensive review meeting of the banks, financial institutions and
cooperatives in a few days," he reiterated.
After
a comprehensive review, the government will identify and solve the problems of
the financial sector.
In
the meeting, the Prime Minister emphasised that the cooperative board should
regularly monitor and facilitate for the solution of the problems seen in the cooperative
sector.
Published in The Rising Nepal daily on 20 March 2023.
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