KATHMANDU, August 16: Finance Minister Janardan Sharma has urged the savings and credit cooperatives to inject 60 percent of the investment in the productive sector.
Addressing the program organized to mark the 34th founding anniversary of Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN) in the capital on Monday, Minister Sharma said that he had heard savings and credit cooperatives were investing in real estate or other such unproductive sectors. Minister Sharma asked, “What is the focus of your investment? It doesn't make sense to invest in a house, land or car. ”
FinMin urges BFIs to invest in productive sector
Stating that he has made a plan to transform the consumer-oriented economy into a production-oriented economy, Minister Sharma urged the cooperatives to help in that. "If you have a problem and it can be solved if I make a decision, I am ready for it." Minister Sharma said. “You should also increase investment in the productive sector. Invest at least 60 percent of your investment in production and help alleviate poverty. ”
Stating that there have been incidents of some cooperatives swindling people's money, Minister Sharma urged NEFSCUN to pay attention to it.
