Fear of a “collapse of the financial system” persists « Khabarhub

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The fear of a “collapse of the financial system” persists

Economy is the priority, not politics

KATHMANDU: We contracted loans but we could not make good use of them. We were unable to refund it. Unfortunately, the burden is growing.

The state of the economy today is very worrying. I don’t think the government can sustain this in its own way. As we have an open border, there is another calculation of importing goods through informal channels.

Rather than relying on the government, we must say that the government should not waste resources, the government should not engage in “political corruption”, otherwise it will be exposed.

Today, strengthening the economy is more important than politics. From the civilian sector, we can correct this by becoming aware of the situation ourselves.

Only when we use domestic goods and exclude foreign goods will we get rid of this problem of trade loss and currency loss.

Looking at the current systems, there are fears that Nepal’s financial systems are collapsing. What do you do with a deposit at 14% interest? How to pay the debt? There is no guarantee that you will receive a pension today.

We do not believe in Nepalese products. There is no reason to say that our products are better than those outside. For the one who chooses the second way and brings the goods without paying the customs, the price is reduced and the one who brings the goods by paying the customs is more expensive.

If the current trend continues, we will face a crisis in about 4 years. The government paid no attention to it. The government thinks it has had enough, that it has won enough. Therefore, as citizens, we must be aware and emphasize indigenous products.

Why don’t we use locally assembled products instead of using foreign vehicles, bikes and bicycles? When we do that, the large amount of money that is currently going to business will be transferred to industry.

In the GDP of 4.8 trillion, the private sector mobilized 4.5 trillion. Even when wanted by the rulers, there is no money. Everything must be accounted for. We need to see who has invested how much and where. After taking the loan, it has to be tracked.

Looking at the current systems, there are fears that Nepal’s financial systems are collapsing. What do you do with a deposit at 14% interest? How to pay the debt? There is no guarantee that you will receive a pension today.

In order to save the country and the economy, it is necessary to bring ordinances and bills. All the economic structures of the country are upset. We didn’t even imagine that would happen one day.

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Don F. Davis