Parties must chart a course toward development, prosperity: Mahat

KATHMANDU: Minister for Finance Dr. Prakash Sharan Mahat emphasized the need for all political parties to join forces in the pursuit of the country’s development and prosperity.

Speaking at a talk program on ‘Good Governance, Sustainable Development, and Prosperity’ organized in Dhulikhel on Friday, Mahat said: “Conflicts between political parties, debates, elections, defeats, and victories are all natural processes. However, it is imperative for parties to unite to chart a course toward development and prosperity.”

Mahat also claimed that the economy was gradually stabilizing. “Initially, we implemented a loose monetary policy which led to an increase in the money supply in the market. Subsequently, we adopted a tighter monetary policy which resulted in higher interest rates. Now, we need a smooth transition,” the finance minister said. “We observed an unnatural rise in the share market and property prices in the past. Now, we need some corrective measures.”

He also said that the government would enhance its spending capacity to invigorate the economy. “Consumer spending is essential for demand generation. Without demand, there won’t be investments, job creation, or income growth. Therefore, it is essential to boost the confidence of consumers and investors to create demand,” he added.