First Business News Portal in English from Nepal
KATHMANDU: Finance Minister Janardan Sharma has said that the investable amount of the Citizens Investment Trust (CIT) should be mobilised for the national infrastructure project.
The work of keeping money in banks and financial institutions by the CIT should be stopped, he said while addressing the 32nd anniversary of CIT on Friday.
Stating that the capital formation by institutions like the CIT should be made effective, Minister Sharma said that the country needs to raise Rs. 1,700-2,000 billion now for upgrading the country.
He said that the Ministry of Finance has been continuously working to raise capital as the country has been facing the problem of liquidity crunch in recent times.
There is a need to increase employment and economic growth in the country through investment by collected capital scattered in different sectors, he said.
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