सिंहदरबार संवाददाता
Dr. Ramesh Poudel has been involved in the profession of associate professor at the Department of Economics, Tribhuvan University for a long time. Poudel, who has worked as a member of the National Planning Commission, is involved in various research and research. He says that the Nepali banking sector is in good health and there is abundant investment potential in Nepal. The same Dr. Poudel was asked by SinghaDurbar.com’s Editor-in-Chief Narayan Prasad Poudel about the economy of Nepal: You, a professor, spent a term in the Planning Commission and where will the country’s economy be taken? ##. Did you also make a plan##? You had a big role until the 16th Plan. At this time, what is the position of the country’s economy? ? ##? ##. Where should banks invest money? ##. Remittances have accumulated so much. Foreign exchange reserves are at a new record high. Demand in the market is not increasing. The government’s revenue collection rate is looking very weak. But economists, ##professors##, ##central economics departments of universities are nowhere to be seen. Even though the head of your department is the vice-chairman of the Planning Commission. But how to improve the economy##? ##The government will form a committee under the leadership of a former secretary. Is the role of academicians weakening in the country##? Or is their capacity weakening ?
# #inline_tags_PLACEHOLDER_36## # #inline_tags_PLACEHOLDER_36## # #inline_tags_PLACEHOLDER_36## # #inline_tags_PLACEHOLDER_36## # First of all, the commissions and committees formed by this government are for temporary purposes. They are for a specific period. Therefore, the government does whatever it feels comfortable with. Its self-vision, role, beliefs, wherever it is convenient, it does it in that way. If there were pure research and academia, it would probably be in the department. The current department head would also be in that committee.
The second question you raised is serious. Why doesn’t the Central Department of Economy discuss the overall economy of the country? Why doesn’t it care? Why doesn’t it organize programs? Why not make a fuss? That is a very important matter. If we talk about the past 2 years, we had organized two programs on basic issues of the economy. We also publish a journal. That too, we fell behind due to various reasons.
Overall, the central departments of the economy, the central departments of the universities, the research centers, along with a little financial support, and other infrastructures that are needed for research, such as computers, apps, internet facilities, software, all of them, should be enriched and given weight to research. Those departments can be centers of discussion and national debate on that topic.
Unfortunately, that has not happened. I think that should be the case.
You have just said something very strange. Source–Source means money. It is not always a matter of the government’s mouth. Departments have to collect the resources they need for themselves. There are various ways. You don’t go there. You look at the journals you publish. You even try to look. This is the position of the economy. Now it has to go like this. There is no discussion in society. You don’t see it ?
Yes. Absolutely. I said that too. Until recently, our journal Economic of Journal has published good articles in the context of Nepal. For some reason, it has slowed down a bit in the last 5-7 years. Covid is also a responsible factor. Even before that, due to various reasons, it was released almost a year later. At that time, fewer articles were available. Even now, those problems are there.
We are slowly recovering it and preparing to meet it from 25. For research, most of the research in government university departments is not possible without government funding. What is the bureaucracy or the system inside it like? It has brought so much research and given so much to the university and there is no crystal clear vision to mobilize research in this way. Because of that, it has become more dependent on the government.
Talking about the Central Department of Economics, the journal does have some funds. After the funds of that department were gradually merged with the central fund of the university, it seems that the resources required by the journal are very scarce. At one time, the National Bank also contributed to raising the journal a little higher by providing good funding. Later, that too was discontinued.
But even you volunteers, the government makes the budget through a public forum. It brings periodic plans. It says to do this and that. You don’t hear anything about doing this. You don’t see it. You must be doing it. That society should know. Even in such a position, your role is not very visible.
That’s right. There have been plenty of people from the same group going elsewhere and having a lot of discussions. It is customary to go and speak at conferences, go to various government bodies and hold discussions, go to various organizations and give introductions, but the department itself should have made an action plan and tried to make it the center of discussion. That part is lacking. There was a time in the past. It is lacking now. It should be picked up.
The ability of those in your department, ## Willingness##, ## Is it a lack of power or is it not the government, but their job is to create noise##, ## Are they doing ##?
There is a double aspect. One of these is that when we or the department speaks, the government can pick up the message to the extent that it is in its place. Because academics tend to speak a bit critically. Speaking from the facts, they say that critical research is a critical approach. Therefore, people who do not have the strength to endure at some point in time have also become demoralized in one context. But that does not mean that there are no activities.
I think there is no focus on that. It is customary for our department friends to go to foreign conferences in journals, attend a lot, put their things in discussions, and publish in foreign universities and foreign journals. They are doing it. Since the journal does not have a top rank, it seems that there is not a sufficient number of articles in the journal.
That Rastra Bank also came to a situation where it put one or two articles in one or two issues. Having said that, we have some weaknesses in creating an environment within the country. I think it comes from the country’s leadership. In terms of running the university and leading the department in terms of driving the economy, I think there is a flaw in our leadership.
Now tell me. What is the conclusion of the Central Economics Department, which you are involved in today? Why did investors not want to take loans? Why did the demand not increase in the market? ? Money kept piling up in the bank. Why is it not being used ? A large amount of foreign exchange has accumulated. How to utilize that? It has reached a point where some areas, which are burdened by the burden of excess resources, are unable to collect revenue even to pay the government’s salaries. Why ?
As the Central Department of Economics, Tribhuvan University, I cannot say the department’s view on this right now. I will say what I have to say from my view and a simple macroeconomic approach. As you said, we are also preparing to do what we have to do during the discussion. Perhaps it will be done in 1-2 months. In the current situation of the country, looking at the country’s economy today, I think three things are important. There is enough loanable money in the banks. But people are not looking to invest.
At one time, we used to lack liquidity and did not have investable money. That date was a scenario two years ago. Today, it is just the opposite. So what should the state do at this time? What should the experts do? It is important to discuss that aspect. Why are investors not willing to invest? This is a serious question. It may be the issue of good governance that we have been saying many times. It may be the lack of an investment-friendly environment.
It may be the decline in the Doing With Nest indicator. There are reports that the level of even corruption has increased recently. That is one of the reasons why people have not been able to invest. Another big challenge for the banking sector is the Durga Prasai factor for the past 1 year. Should the investment bank do it or not? Should they give money if someone comes? Many bank CEOs are getting entangled in that confusion. The risk factor that has become a situation where people do not want to invest has become a situation where they have to look at it very seriously. Secondly, now, forex, especially on the strength of remittances, forex foreign currency reserves are historic.
There has never been so much. I think it’s the first time. I think I’ve even started the discussion. That the time has come to use that remittance, that foreign reserves, in some way or another to prevent inflation. Attention should be paid to that. Basically, if it can be spent on building sustainable infrastructure in capital expenditure, that will work. That modality will be discussed and decided by the National Bank and the Ministry of Finance. When the government asks, what we say will not be implemented.
Otherwise, they have their own mechanism. They can also do it with pleasure. There are stakeholders, planning commissions. The National Bank also has good experts. They can find some solutions. So, according to international practice, we have a reserve that is enough for about 6 months of both imports and exports. Now, instead of 6, let’s make it 9. Or even 10. If we use the remaining budget all at once, it will increase the money supply a lot. Because we will go to another level. But if we set a standard for reaching a certain level from 1 to 4 months and spend it in a good place, it will be possible. Currently, our effective budget is 4 trillion rupees.
If we allocate that 4 trillion rupees to invest in development, we will probably spend between 2 and 30 percent. That is how much is the growth rate of our development. Having said that, it is a well-established belief that if you invest 1 trillion rupees, you will get about 1.5 percent economic growth if you invest it in a place with good productivity. If you take out 1.5 trillion rupees from abroad and spend it in a place with good productivity, it will not be difficult to achieve 1.5 percent economic growth.
Instead of 4, we will reach a place where we are talking about 5, 5 and a half. It seems that the plan should be made in this way. Looking at the current situation, we can look at the things that need to be replaced rather than what those sectors will be. For example, why spend five years on infrastructure to replace one? Even if it costs money, we need infrastructure that can be built in one or two years. We can go through the process of industrializing a certain type of product to become self-reliant. Even if you say that you will do this much megawatts of electricity within a year to free up the industrial load shedding, it will still give us a return of one or two percent in economic development.
So we can discuss which place is right. There are many potential areas. For example, we can invest in the millet crop that is currently disappearing. If we invest one and a half billion rupees, we can jump a lot higher in millet crop. Maybe in hydro. Maybe in tourism. If we improve the infrastructure of the tourism sector a little, it will take three days to go from Kathmandu to Pokhara, regardless of whether the plane flies or not, because people and tourists are coming.
But if we focus on reaching Pokhara in four hours, it will also increase tourism. It will not be difficult to increase the economic growth rate by one percent. Therefore, if we are to invest by improving managerial capacity to the point, that money should be invested in such a place. But investing in such a place to pay off debts or to pay interest and to pay salaries will not work. But it would be better if we use the capital expenditure calculation method to produce quality products.
But where are we spending on development, if there is no preparatory work, no DPR, no side clearance, no security, but we will rush to award contracts.
That is true. I am not saying it is not. But it is decreasing. Because if we look at five years ago, there were many projects without DPR. Almost all projects did not have DPR. Some of its burdens have been shifting. Some are still added based on political nexus. Not one or two. Various names have been added even now.
Normally, one of the criteria that we have in our planning is that there are as many development projects in the country. Those projects must have been entered in the project bank. Except for the projects that have been entered in that project, budget should not go from the national budget to other places. It has been said, but there is also a practice of doing so. But sometimes, on the occasion of the law, the Finance Minister has violated that criterion during the budget speech. That is unfortunate. That should not happen.
And if the National Budget Bank invests money only in the project bank, then that project will not be entered without a DPR. The critical area for entry in the project bank is the DPR and its critical area. Only the documents that have been done by doing environmental assessments and all that are done will be entered into the project. But not getting budget for a project with that entry, and giving budget to a plan without an entry is the Finance Minister’s bullying.
This is bullying by the ministry. Such bullying has happened on the occasion of the Act. If there is a situation where the authority person who goes to the culture of taking action against such a person is in a culture, it will be. But that modality has become a lot. Earlier, budget projects were entered at 80 percent, but now it has gradually decreased to 30 percent.
Now let’s bring the authority to development and connect it. Are corruption-related crimes decreasing because of the authority or are the employees discouraged from doing this work? There is equal literature on both.
It depends on a working style. When the authority uses it as a project or shows it as a small thing, it has discouraged people who do bureaucratic work. I also looked at the past one or two terms. Even now, anonymous complaints are abundant, and a large amount of the state’s financial resources are being spent on it. To the extent that it makes a certain type of person cautious, that is also right.
That is why the role of authority in good governance should be greater than that of development administration. The role of authority should be to control the misdeeds seen in development administration.
But overall, there is an established belief in bureaucracy now. Why sign ? Why not move the work forward ?
Is not signing also an abuse of authority? Those things fall within the scope of the authority. Looking at the definition of abuse of authority, everyone understands that only the receipt of money is good, but not doing the work that should be done on time is also an abuse of authority.
Embezzlement is also an abuse of authority. Spending the government budget by making improper plans and making plans with wrong intentions is also an abuse of authority.
There are two arguments for this, on the one hand, it says that the authority itself should be abolished because it has not allowed it to do its job. On the other hand, it says that let’s bring in something more powerful, like the Jan Lokpal, and make it a more powerful body.
Rather than putting that person in jail and improving him, we need a mechanism that monitors and produces results. If you bully him, take him to jail. His home may be ruined, but the country ultimately gets nothing. People may be discouraged, and another person may not do that job. What the country needs to do to get it is to improve the monitoring system for every job.
Monitoring should be good so that the work is done on time and properly. The work should be done methodically. Attention should be paid to this matter. Countries that have used these things in practice practically have become developed. Countries like ours that have not been able to use these things have become semi-developed, that is the problem.
You were involved in the budget preparation process twice, formally and informally. Once, sitting next to the Finance Minister and the next time, sitting formally in the National Planning Commission. How can this mess arise from the budget preparation process? ?
The mess does not start from the budget preparation process. Because when it comes to ministerial discussions, it goes through a method. Where it goes, you have tried to indicate whatever things the day before the budget speech. Whether it is a matter of a mouse cutting the wire or whether it is a plan of a leader’s mistake. Whether it is a matter of one ministry coordinating with another ministry, that technology is wrong.
Until when is that correction made, except for the entry in the project bank, the Ministry of Finance can guarantee that no budget will be spent on a single project. Only then will the budget process be streamlined and the pressure will also be reduced and the effectiveness of spending will also increase.
For example, if the chairmen and administrative heads of rural municipalities in districts like Mustang Mugu come and stay in Kathmandu for a week, tell me how much money it costs. They prepare the documents, enter the project bank and leave. It takes 2-3 months, they sit for a week and leave, feeling sad. It probably costs more than 1 million rupees on average to get those documents and enter the project. Even a project worth 20 lakhs costs 10 lakhs. Even if a budget of 2.3 crores is requested, it costs 10 lakhs and enters the project bank.
But unfortunately, when the Finance Ministry makes the budget speech, the budget is not allocated for that project. The budget goes to the bank where the project bank does not have an entry. This is complete misuse of authority. Such acts have happened. I think that as long as we do not discourage this behavior, the misuse of the budget will not stop.
After calling it misuse of authority, the government also has the discretion to change certain types of tax rates from time to time. This is labeled as a theoretical decision of the cabinet ?
It is not just a theoretical decision. If the tax rates are not changed as needed, then the revenue will not be collected. That is the way of working. If the rates are changed based on the lessons learned from the research done by the finance team for 6-9 months, the research done by the tax administration, the revenue received, all these things, it will bring good results. The increase in the budget rates and tax administration rates based on how long the previous evening or night meets with the finance minister or who else, that is a kind of corruption.
In the meantime, we looked at the cement case. We looked at the Dandi case and now we are looking at the EV case. The ultimate benefit of it will be taken by a certain group of people and the government’s revenue will continue to shrink.
The person who has done that. He has to come with evidence. That is bullying. Bullying can be done in two ways. One is by changing tax rates, without a plan, a study of the plan, and the other is bullying in an exercise of 2-3 days. Another project is to find nexus for a bank that does not have an entry in the bank based on its area, on the basis of what the leader says, on the basis of its settlement, or on imaginary bases like the school it studied, the place of birth, the district. Those budgets have not even been spent. That is also corruption. Both of those issues should be the subject of investigation by the authority. Even if it is not now, those days will come after 10 years.
You have a belief among economists. If the government spends one rupee, the private sector spends three rupees. When you take this into acquisition, you said that with a capital expenditure of around 1 trillion, an economic growth rate of one and a half percent is achieved. But other types of people are gradually achieving the level of economic growth that we have been achieving. There is no much push from the government in that. That is what was obtained when it rained, ##India has been giving concessions on certain items, but the government is not getting all these things even though it is making efforts. Was there no institutional effort from the state?
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## Currently, if we look at our investment calculation, 70 percent is from the private sector and the remaining 30 percent is from the public sector. That is the practice seen in the current structure. Now, if we go to the socialist administration, the public investment goes above 50 percent.
If we were to create an investment to increase it, even if the government spent 10 percent, it would have been enough. If the government would have created a good investment, as I said earlier, and if it had not been deliberately misguided in terms of spending the budget and changing the revenue rate, then even if the government spent 10 percent, it would have been enough. If it was in a large volume, that would have been great. But the 30 percent result is coming, which is unfortunate.
If it is not the case that 70 percent private sector investment means that the government has done nothing, then by mobilizing that same review, the growth of the bureaucratic structure power is 70 percent investment investment. Whatever it is, the resources required to create it are also coming from the mobilization of 30 percent. So it is not that there is no role. But it has not happened as much as it should have.
Our main source of foreign exchange earnings is remittances. We don’t need to look at the trade deficit statistics. Your eyes will be filled with tears. We envisioned two types of economies. Let’s make many things ourselves. Eat ourselves and run ourselves. We don’t have to import many things. This may be one formula. Let’s make many things. Let’s make them cheaply and export them at high prices. But we have failed in both places. We have already said that remittances are the only major source of foreign exchange earnings. With 1 trillion plus, we have reached the point of cutting the cake. Where do we get that foreign exchange from? Let’s say around 1 trillion, by exchanging goods from other countries. You have not made good additive goods. You have not gone on a very fast path.
I agree with your sentiment that we have neither been able to work to replace imports nor to promote exports. We have failed in both. How to look at it in this context is that we were affected by a decade of conflict, then spent a decade on the constitution, then we were almost at a point where we were becoming a relatively stable type of government. At that time, there was a bit of momentum in terms of growth, so we brought the 15th plan with a long-term perspective, but the government, which did not even imagine that for unnecessary reasons, went through the process of dissolving the parliament, and now the seeds of uncertainty have been sown again.
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## Lately, the Corona virus has been used as an excuse, and bad loans of banks have increased. Industries have said that they could not do business like before, and those who can have it have also made excuses, but it seems like a paradigm shift in both production and consumption. There are no people in the market, consumption has decreased, and traffic jams are not decreasing on the roads. There are no buyers in small shops, but people are buying goods by lining up at the Bhatbhateni. This is how consumption technology has changed a little, but basically, no matter what, remittances are the main source of foreign exchange. We can do better in tourism, if we can make arrangements to export a little better, if we do it without making a mess, we can also export electricity, but not now.
After a long time, exports worth 100 billion were made, maybe 2-3 years ago. Even if it decreases now, it will not decrease by a trillion, as compared to before, there has been development. But it is less because it is like 1:10, so now we have to focus on 2-3 things to know how to go there. We have to focus on what to do with one item. How do we differentiate the technology, we have to offer something different from theirs than competing with India. Even those who produce the same item should pay attention to what we can offer different from them.
For example, Chinese mushroom apples are sold a lot in Nepal because they are different from Nepal’s and even different from those coming from India. At that time, product differentiation occurred. Even when we sell clothes, cement, vegetables, fruits, and tea, we have to focus more on coffee, tea, anlouchi, and muffins. If we focus a little on this, we can increase the volume of exports and, despite imports, we can increase exports a little more. This has a multiplier effect.
To run the area you mentioned, there is a dilemma: whether to let the corporate sector enter that area or to run small and medium-sized farmers. If we are to start corporate agriculture in Nepal, which is bigger? -1####inline_tags
To bring about a multiplier effect, either someone should take the lead in the supply chain network and the government should do salt trading in the old days, or social organizations should do it from the bottom up. If we create a mechanism to collect the products produced by farmers and take them to the international market so that they can become a global leader by increasing the value of ginger, coffee, lemon and other 5 items by 10 times, we can make a great leap forward in this, it can be from 1 trillion to 3 trillion immediately. But we have to go with the idea of becoming a global leader. If we do not even channelize what farmers produce and do not allow big industries to go there, how can we increase production? There is a problem here that needs to be cleared up. The government also had to create a vision and either give it to a collection and supply or take it to a big industry.
Whether to bring foreign investment in agriculture or not is still a matter of debate ?
Why did it need agriculture and whatever agricultural items are produced in Nepal, if they were brought to the industry using ‘and’ materials in Nepal, then why did we need agriculture and why did we have to give land? If it can be brought to processing, if agriculture and process manufacturing are added, its valuation will be 10 times. For example, when you sell Akbare Khusarni, you sell it for 300 rupees per kg. Ginger is 100 rupees per kg in the market. If you process it and make Khusarni pickle, it can be sold for 1,000, 2,000, 3,000, and if you can make ginger juice powder from the same, it will cost three times more. That industry is also there. In agricultural products, we have to get rid of the rule of Chaklabandi. If this person is in the mountains, even if it is 75 rupees, how much is it in Kathmandu? Remove it from the restriction and see if it is necessary for 1/2 year, and if it is necessary, make a method of returning and give it to him and increase production. Whatever you do, you have to go through a method.
The NPA of banks has increased. The NPL of commercial banks has reached around 40 billion. It seems that the NPL is also continuously increasing. Nepal Rastra Bank has taken over a development bank. It seems that the size of bad loans of others is also increasing. When we are in the phase of loan portfolio review of 10 big banks, it can expose a kind of disaster in the banking industry of Nepal. It is believed that it is the stage of opening Pandora’s box and it will ruin the entire economy. How should we take it? ?
Contrary to our established belief, the money of the bank does not only belong to the bank’s investors, since 90 percent of the money deposited by the general public belongs to the general public, the closure of an industry is not a big deal. The closure of a bank is a big deal for the economy, so this is a serious issue that we should take care of. If the amount of non-performing increases, that situation can or cannot come. This is not a matter of rumor. A few weeks ago, the National Bank took over a development bank. It is not a matter of rumor in terms of management. It is a matter of how the regulatory body has viewed such matters. It does not do anything to say that we are doing something. The regulatory body should have been alert in this and after it introduced Corona in the market, some industries have fallen and have not been able to recover. The incentive packages we have given have also not been timely.
Some time ago, you, as a team leader, conducted a research on the income, expenses and health of Nepal’s banks, and the findings were made public. We want to hear from you. Tell us today. Investors in Nepal’s banks seek returns. What is the position of the health of the 90 percent of the money that ordinary citizens keep in banks? ?
As far as I can see, the health of Nepal’s banking sector is not weak. There are countries with more than us. That is why there is no need to worry about the health of the banks. It can be understood that the same standards that were there before Corona are seen as low in the current situation. When comparing our banks with Globally, the return on equity of Nepal’s banks, especially the amount of money invested, is not more than the amount of money that should be returned on the capital invested. It is almost the same based on the equity invested in other sectors of Nepal. The health of the banking sector is not weak. Let’s take the last 5/7 months and 1 year as an exception because they also did not have timely collections, which is also an exception. Since the data of the 20th and 40th years has to be analyzed, no one can joke that it happened in 4 months.
But the thing is that since the banking sector has to invest a large amount and keep reserves, the return is less compared to their total assets. If a hotel costs 1 billion, it takes 10 billion more to open a bank.
It is said that it is still burdened by the burden of capital ?
In that total, the return of the banking sector has been less. This reduction does not mean that they will not be able to get up if they fall and run away. But the regulatory body should evaluate itself over time and continue to protect the system. This is a difficult situation. It will take 1 decade for banks to feel its effects after Corona, and it will take another 4/5 years because investors are confused and in some places we also have internal factors. For example, people have been making a lot of noise about what will happen politically in Pakistan, Bangladesh, Sri Lanka, and Nepal, but I think it will take 3/4 years to see what the government is doing. There is no noise without something happening. These noises have also been proven in the past. Such things have brought coldness to investors.
Nepal Rastra Bank amended the Wafia to separate bankers and businessmen ?
We say this so that you don’t get a headache, I’m doing it according to what is in global practice. You can’t separate milk from milk even if you want. If someone is a businessperson, he will invest, but he will be careful not to misuse it. You have earned money by being a businessperson, you have money, why shouldn’t you be allowed to invest in a bank.
Why was the 51 percent structure kept? ?
I would say this based on global practice. If we go by the assumption that they are suffering without looking at global practice, we may be inclusive, but the speed of growth will not go up.
Some people say that if the people of Nepal are traditional, this governor and even senior master bankers have accepted this, we will give loans only with collateral. Skill Week, ##Knowledge Week has such a project in the future, people who say, “I will do it, I will eat, I will provide employment, I will pay taxes” got discouraged, that’s why the price of real estate also increased because only after the same real estate was mortgaged, loans were given and an environment was created where skilled people did not stay in the country because the government does not recognize them##, It has reached a point where people are saying why live in a country that does not give loans and it is said that it has reached the current situation, ##What is your answer?
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## Giving loans to projects is an international practice. Commercial banks in Nepal give loans to projects at a low rate. But it is also good to give loans to projects. Even if you keep all the houses and land, if there is no default, they are rejected. I think people should look at the potential of the business and bring project-based loans to motivate the industry. There is also a global practice that by increasing the critical area by 10 percent to 15 percent, it seems that it will be easier for industries or consultancies and manufacturers to get loans.
It is an established belief that when the economy is in motion, the real estate and stock markets vibrate. Are we on the wrong path? ?
What happened was that we could not invest in industries and other projects. Instead of investing in other projects, we see more investment in the stock market, auto and real estate. Or is it the sad side of the economy. Until we do this, we have the concept of economic growth, and it takes time to reach it. If we want to increase productivity, we should go for agriculture-based manufacturing, but the project bank should not be allowed to take it to other projects. If we want to increase productivity, we should go for that provision where we can tie up agriculture and industry and give it to those who do business by putting the project in it. Invest 1.5 billion there, select 5 things, have a national debate, see how much potential there is, see what potential industries are running in it, and by establishing agriculture and industry worth 1.5 billion, we can achieve 1.5 percent economic growth in the next 6/7 months. Coffee also comes to Nepal at 5 times the price after brokers reach the villages and process the coffee outside.
Finally, there are 2 types of winds blowing in our economy right now. I don’t believe that our economy is very difficult, and I don’t believe that either. These are two extremes. There are some problems in our economy, but if we are patient, we don’t need to panic.
Here, there are problems in the banking sector, we don’t need to panic about this either. There have been one or two, but it will gradually go into correction. If our state bodies and investors can all focus on it, it will be positive. We are in a position to benefit from remittances and dividends. Exports in Nepal are also growing faster than in the past. If we can focus on certain items and do it, it can increase. If we can give confidence to Nepali investors, foreign investors will come through them. Instead of playing around in the name of investment conferences, we can do it in these 3 years. 5 multinational companies will be able to work in the manufacturing sector. If the government negotiates with them and creates an environment for bringing 1-2 multinational companies, it would create an industrial environment. The economic situation is neither panicking nor depressing. If we work cautiously, the country is beautiful.
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