Kathmandu. Former Finance Minister and Nepali Congress lawmaker Gyanendra Bahadur Karki has said that passing the Bill related to banks and financial institutions (BAFIA) in haste would not bring happy results. Taking part in the discussion on the bill related to BAFIA held in the Finance Committee on Thursday, he said that laws should be formulated seriously in accordance with international practice and only then the economy would be strengthened.
According to Lawmaker Karki, the BAFIA Bill should be discussed in a new way to improve the economy. According to him, the country’s economy is based on agriculture. We need to think about how we can invest in agriculture to make rice self-reliant.
Lawmaker Karki said, “Bafia should be reformed comprehensively. Which should be able to speed up the country’s slow economy. We have to think about how to give loans to low-level farmers and startups. ‘
“Discussions should be held on the WAFIA bill by keeping the finance minister along with the governor. People’s trust in banks should increase. If it declines, the state will fail. There is liquidity in the bank, but some businessmen are reluctant to invest in the business by taking money. As long as entrepreneurs do not take the environment to take money. Until then, the economy will not be strong,” he said.
He said that it is still not easy for the people to take loans. According to Karki, it is difficult for people to go to the bank to get loans below Rs 10 million. He said that a lot of suffering is being done in the name of collateral.
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