Govt is focused on making sluggish economy dynamic: Finance Minister Paudel

KATHMANDU:Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel stated that the government is attempting to revitalize the lethargic economy.

During an interaction with the Economic Media Association Nepal (EMAN) working committee at the Ministry of Finance in Singhdarbar on Tuesday, Finance Minister Paudel clarified that the government's primary goal is to boost the private sector and accelerate the economy, as the private sector's morale is currently low.

"Now the demand has decreased, the private sector has not been able to increase production due to lack of demand," according to him. There was a risk.

Minister Paudel stated that the government will continue its efforts to bolster the morale of businessmen who have been struggling for a long time due to the downturn in industry. He emphasized the importance of solving and managing major difficulties in microfinance and cooperatives.

He stated that some economic indicators are currently positive, while others are negative. "The government is ready to use the excess liquidity in the banking sector to make the negative indicators positive and to increase production and productivity," Paudel, the finance minister, told reporters.

He says that revenue mobilization is also difficult right now. "Revenue has not been collected as per the target," he informed me.