News Article

Newly-appointed Finance Minister Mahat forms task force to manage the govt’s cash flow

By Republica

Published: March 31, 2023 09:19 PM

KATHMANDU, March 31: After a long gap, Prakash Sharan Mahat has been appointed as the new finance minister of Nepal.

At a time the country is facing a serious financial strain with soaring inflation, economic slowdown, a low confidence among the private sector, low credit flow by the banks and pretty low capital expenditure of the government, Mahat has taken charge of the challenging job of finance minister.

Mahat as his first step after his appointment has formed a committee to devise a cash flow plan. While the chief of Budget and Program Division of the Ministry of Finance (MoF) leads the task force, department heads of the government ministries and representatives from the Finance Comptroller General Office, Nepal Rastra Bank and Public Debt Management Office are among the members.

Ananda Kafle, spokesperson for the MoF, said the committee will carry out a study of the state treasury and will suggest necessary steps to be taken by the government.

Assuming his office, Finance Minister Mahat said he will look forward to building up confidence in the private sector to uplift the economy from the present condition. He has also expressed his commitment to improve the relationship of the government with the central bank to solve the current problem of the economy.

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