CBFIN at PM’s office to discuss economic problems

CBFIN at PM’s office to discuss economic problems

KATHMANDU: Mr. Pawan Kumar Golyan, President of CBFIN including executive committee members took part in an exclusive meeting held at the Office of the Prime Minister and Council of Ministers (OPMCM) on February 24, 2022. The meeting was convened by Hon’ble Minister for State Mr. Umesh Shrestha to discuss economic problems caused by the liquidity crunch.
Chairing the meeting, Hon’ble State Minister Mr Umesh Shrestha expressed serious concerns about the deteriorating economy caused by the liquidity crunch. He called for joint efforts from all sections of society to get rid of economic difficulties. He was also appreciating the study conducted by CBFIN on liquidity crunch along with recommendations for solutions.

At the same meeting, President of CBFIN Mr. Pawan Kumar Golyan expressed serious concerns about the downward performance of the economy due to decreasing remittance, the deficit in the balance of payments (BoP), rampant increment in import, weakening forex reserves, increased investment in less-productive sectors, promoting indigenous products for a sustainable economy, among others. If this continues, it will affect our economy badly for which we all need to join hands and find sustainable solutions with immediate effect, Mr. Golyan cautioned.

High-level dignitaries were also present on the occasion namely Hon’ble Member Mr. Binod K Chaudhary, Finance Secretary Mr. Madhu Kumar Marashini, Secretary at OPMCM Mr. Laxman Aryal, President of CNI Mr. Bishnu Agrawal, Mr. Bhoj Bahadur Shah, Senior Vice President of CBFIN, Mr. Keshav Bahadur Rayamajhi, Secretary-General of CBFIN. Similarly, CBFIN Executive Committee Members namely Mr. Dasarath Rizal and Mr. Mahendra Kumar Goyal, including Director General Mr. Gopal Prasad Tiwari, were present on the occasion, among others. Hon’ble Member Binod K. Chaudhary suggested at the meeting to move effectively in a coordinated approach by conducting regular meetings to resolve the economic problems faced by the country with ‘specific recommendations’. Finance Secretary Mr Madhu Kumari Marasini and Laxman Aryal, Secretary at OPMCM also expressed their concerns on current economic challenges.

Later on, a separate meeting was held between CBFIN and Karmabhumi Samaj (KS) Leadership Hon’ble Binod K Chaudhary, Coordinator at KS in the presence of Hon’ble State Minister Mr Umesh Shrestha. CEO of KS Mr Yograj Kandel Sharma was also present. The meeting stressed on youth entrepreneurship development, promotion of MSMEs with better access to finance and market, and mobilizing unused funds with an effective mechanism for start-up entrepreneurs. If new avenues are created, BFIs will get an additional opportunity to increase investment on a sustainable basis.
CBFIN and KS have already signed an MoU in a bid to create new entrepreneurs in the country, develop MSMEs, make easy access to finance to start a new enterprise and boost the national economy.

– CBFIN Secretariat