September 15, 2001

Kathmandu: Finance Minister Dr Ramsharan Mahat inagurating the Fourth National Council of Nepal Financial Institutions National Committee here today said the country could face a big economic crisis if all financial institutions do not work for the greater interest and security of their sector.

Stating that the government, management and employees unions are jointly responsible for the staggering state of financial institutions of the country, Dr Mahat emphasized the need for one and all involved in the sector to become responsible and transparent in their working in the greater interest of the financial institutions.

Governor of Nepal Rastra Bank Dr Tilak Rawal said the effort made by the government to improve the state of economic indicators for the development of the financial sector through economic liberalization has led to the progress of the country’s economy.

Deputy general manager of Agriculture Development Bank Madhav Prasad Upadhyaya blamed concerning management and employees union of spoiling the state of financial institutions.

The Association’s National Committee chairman Amritmani Poudyal presided.