Seminar on Effectiveness of Monetary Policy

One day seminar dated 31st December 2011 (16th Poush, 2067) was conducted on joint effort of Nepal Intellectual Forum (NepIF) and Pokhara Chamber of Commerce & Industry held at Amrit Hall of Pokhara Chamber of Commerce and Industry. In the seminar Dr. Yadav Prasad Sharma Goudel presented a seminar paper on “Effectiveness of Monetary Policy in Current Nepalese Economy”. According to him factors like decrease of investment in private sectors, lack of control over government expenses, low aggregate demand etc. are responsible for increase in price level. Ineffective distribution of bank loan in productive sector and frequent increase in petroleum price are contributing to increase inflation. He stated that current monetary policy should match with the financial policy for improving aggregate economic stability and monetary economy in Nepal.
Commenting on the seminar paper, special guest of the program, former governor of Nepal Rastra Bank Mr. Dipendra Bahadur Chhetri said that intellectuals should uncover the pros and cons of economy based on veracity and also should look upon the correlation between monetary policy and economic policy.

Seminar on Effectiveness of Monetary PolicyAs representative of industry and business sector, member of Pokhara Chamer of Commerce and Industry Mr. Neeranjan Shrestha commented that due to unclear and vague government economic policies private sectors are unable to make investment even if they wish. Likewise as representative from banking sector, Chief Executive Officer of City Development Bank Mr. Bishwa Mohan Adhikari commented on the seminar paper. According to him lack of clear vision between economic policy and monetary policy is creating several challenges in national development.

The first phase of the program was chaired by Mr. Krishna Mohan Shrestha, Chairman of Pokhara Chamber of Commerce & Industry. During his welcome speech he opeined that both industrial and business sector, and intellectual organization should go together in the process of national development.
Chairperson of the forum Prof. Dr. Pashupati Nath Timalsena held the chairpersonship of the interaction session. Presenting the purpose and conclusion of the program he focused that the forum organized the program with the purpose of interacting on the issue of effectiveness of monetary policy in current Nepalese economy among industrial, business and banking sectors of Pokhara valley and nearby areas as being main economic centres.

The program saw presence of around eighty participants including people working in industrial, commercial and banking sectors of Pokhara and Professors. From the participants Prof. Dr. Nagendra Lal Shribastav, Prof. Dr. Bishow Shrestha, Dr. Lekhnath Bhattari, Dr. Karna Bir Poudel, Mr. Ashok Palikhe, Mr. Narayan Bahadur Adhikari, Mr. Amrit Ghimire, Dr. Balaram Upadhyay, Ganesh Bahadur Gurung, Mr. Sanjib Bahadur Koirala, Mrs. Shanta Koirala,. Mr. Krishna K.C. expressed their views on the issue raised by the working paper.