Employees of Nepal Rastra Bank, central bank of the nation, has stressed to eliminate anomalies and malpractices to make it more capable to regulate the financial sector.
Speaking at the programme on Friday organized to mark the 52nd anniversary of the central bank they said that inefficiency of the central bank has also contributed to the slow pace of financial sector reforms.
Sensing that the central bank is mired in corruption, Basant Raj Pandey, president of Nepal Rastra Bank Employees Association said a system should be developed to frequently update asset record of employees. “If any unjustifiable rise in wealth is detected, an inquiry should be launched against the related employee,” he said.
Explaining the current economic scenario, Krishna Bahadur Manandhar, deputy governor of the central bank, said the government has budgetary surplus of Rs 3.69 billion until last week. It had posted a deficit of Rs 7.84 billion during the same period last year. “As the capital expenditure has not gone up as expected, the total expenditure registered a moderate growth of 10.3 percent,” he said.
He further said the government mobilized a total debt of Rs 12.41 billion to fund budgetary expenses. “Of the sum, Rs 10.03 billion was mobilized through domestic debt and Rs 2.38 billion from foreign debt,” he said.
Presenting a gloomy scenario, he said that foreign trade is the most worrisome factor for the economy.
On the ongoing efforts of the central bank, he said steps have been taken toward divesting shares of other financial institutions under its ownership.
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