Speaking to the newly elected executive members of the Society of Economic Journalists (Sejon), Nepal said that the pace of financial reforms would be affected if the decision to hike the capital, which was taken to ensure financial stability, was changed.
“It is obvious that the attempt to build pressure to revise the decision through the parliamentary committee has been driven by a conflict of interest of some lawmakers,” Nepal said. Lawmaker Tamang, who is the chairman of Civil Bank, and lawmaker Duman Singh Thapa, who is a director of Mega Bank, have been lobbying hard against the central bank’s decision.
Nepal, however, stressed that the central bank would not change its decision due to pressure from some groups with vested interests. Nepal believes that hiking the capital will strengthen BFIs which will help financial stability.
Meanwhile, the central bank has also been preparing a directive barring lawmakers from becoming directors of BFIs.
During a recent parliamentary committee meeting, lawmaker Tamang said that NRB’s policy could benefit some older banks while affecting new ones. Lawmaker Thapa urged the central bank to introduce separate policies for old and new banks.
Finance Minister Ram Sharan Mahat insisted that the parliamentary committee should not intervene in the decision made by an autonomous body.