Banking News – Finance Minister Dr. Swarnim Wagle has stated that the government is moving ahead with five special packages to make the economy dynamic. Speaking at the 28th Annual General Meeting of the Nepal Economic Journalists Society (SEJON), he informed that work is being carried forward through five packages covering various sectors for economic reform.

The Finance Minister stated that under the first package, necessary work is underway for recovery and rehabilitation of damage caused by the Bhote Koshi flood. He informed that a study has already been completed for relief and rehabilitation of industrialists, businesspersons, and the general public affected by the flood.

Under the second package, he stated that preparations are underway to bring a 10 to 12-point policy reform plan within a week to address the sluggish capital market. Informing that preparations are underway to announce a special package soon for the promotion and recovery of the private sector, the Finance Minister stated that it will be advanced as the third package.

Under the fourth package, he informed that the government is working with priority to remove Nepal from the Financial Action Task Force (FATF) ‘Grey List.’ Under the fifth package, Finance Minister Wagle stated that work is focused on mobilizing international finance for reconstruction of damage caused by the Bhote Koshi flood.

“We have also moved forward in the direction of bringing in and managing international funds,” he said. Anjan Shrestha, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized that since the Bhote Koshi flood caused unimaginable damage, the government must bring a special package for affected industrialists, businesspersons, and traders to promote the private sector.