Amid the precarious economic outlook of the country, growing fiscal imbalance, rising bank default cases, and threats to the banking sector, Prime Minister Pushpa Kamal Dahal on Sunday sat down with the representatives of the private sector for the first time after he took charge of the Singha Durbar. The Prime Minister, who is also overseeing the Finance Ministry, discussed the problems in the economy and banking sector with the private sector representatives and senior government officials at his office in Singha Durbar. During the interaction, Dahal discussed the issues related to bank interest rates, microfinance problems, concerns of the private sector, and the attempts to create financial disorder in the country.

During the meeting, Dahal said that the government has taken recent incidents to cause financial disorder seriously and is taking initiatives to resolve the problems in the banking and financial sector. "The government is worried about the current situation," a government official who participated in the meeting quoted the prime minister. "After discussions with the stakeholders, the government will move quickly and take concrete decisions."

"The government is serious about resolving the challenges of the economy. I am aware and aware of people's complaints in the field of banks and microfinance," said Dahal. Seeking suggestions from the private sector, he further said that a high-level commission may have to be formed to resolve the problems. However, Sunday's discussion ended without a concrete decision. The Prime Minister came late to the meeting by an hour. While the meeting was called for 12.30 pm, Dahal reached only at 1.30 pm. "As the Prime Minister has another program to attend, the meeting lasted for one hour only," said a businessperson who attended the meeting. According to him, the representatives of the private sector put forward their concerns. According to Rajendra Malla, President of Nepal Chamber of Commerce (NCC), the private sector demanded a reduction in the bank's interest rate. "We have requested the Prime Minister to reduce the interest rate and premium rate of banks," he said. During the interaction, Nepal Rastra Bank Governor Maha Prasad Adhikari briefed the latest situation of the country's economy. Adhikari reported that the economy is in recovery mode following improvement in the country's external sector. Shekhar Golchha, President of Federation of Nepalese Chambers of Commerce and Industries (FNCCI) touched on the issues of banks' higher interest rates as well as rising non-performing loans. Vishnu Kumar Agrawal, president of the Confederation of Nepalese Industries (CNI) demanded the early appointment of the finance minister. Agrawal was of the view that the new finance minister should be a technocrat who understands the economy well. Nepal Bankers' Association President Sunil KC drew the PM's attention to recent anti-bank agitation by a vested interest group.