--By TC Correspondent
Governor of Nepal Rastra Bank (NRB), Dr Yubaraj Khatiwada has asked the private sector for investment in the service sector. Speaking at an interaction programme organized by the Birgunj Chamber of Commerce & Industries (BiCCI), Dr Khatiwada said that due to capital flight in the health and education sectors, it has become necessary to invest in these sectors within the country.
“It has become necessary to invest in the country’s service sector including health and education to stop capital flight,” Dr Khatiwada said, “The investment in the service sector will make the economy strong.”
He also opined that the country has the right environment for investment at present. He also claimed that liquidity in the banks was quite high. “Banks have more than Rs 100 billion which can be invested in different sectors,” he said adding that this is the right time for investment.
He also claimed that the scarcity of Indian currency in Nepal was because of the informal trade between the countries and the non-transparent customs evaluation. “We bring Indian currency worth Rs 5 billion annually. If all of our trade with India takes place through the formal channels, this much amount of Indian currency is enough,” he said.
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