Kathmandu— Finance Minister Dr Swarnim Wagle has called on the Nepal Rastra Bank (NRB) to play a more active role as a partner in driving Nepal's economic transformation, moving beyond its regulatory functions. During a meeting with NRB executive directors, he emphasized the need for joint task forces and policy coordination to turn discussions into action plans.

Call for Policy Coordination

Dr Wagle highlighted the current political will for reform as an opportunity that should be seized. He stressed the importance of institutionalizing policy coordination between the government, NRB, and private sector to ensure a unified approach towards economic stability and growth.

"The foundation for economic stability is in place," he said. "Now it's time for state institutions to move forward with confidence, clarity, and pace."

Focus on Productive Economic Activities

Minister Wagle urged the NRB executive directors to provide suggestions on policy initiatives that could help in increasing loan disbursement in production-oriented sectors. He questioned how excess liquidity in the banking system could be transformed into productive activities such as industry and employment.

"How can we build a healthy relationship between the capital market, real estate, banking system, and the real economy?" he asked.

Dr Wagle emphasized that regulatory measures should enable rather than hinder economic innovation. He concluded by stating that policy confidence is crucial for achieving economic growth.

(With inputs from Rising Nepal)

Originally published on abcnews.com.np.