Minister of Finance Dr Prakash Sharan Mahat has said that professional auditing is required for economic good-governance and transparency.
At a programme organized on 18th establishment day of Nepal Auditors' Association on Saturday, Dr Mahat said that accounting and auditing are associated to economic good-governance and the two have crucial role in ensuring economic transparency.
On the occasion, Dr Mahat said that the challenges seen in the country's economy after the COVID-19 pandemic have gradually improved and the government was making best possible efforts to bring about reform in economy through fiscal and monetary policies.
Some crucial efforts have been made to address the issues seen in economy, he said, admitting that some challenges in economy still exist. The Finance Minister said, "We tried to bring relaxed monetary policy. Something has been addressed. But, it is still not as per the private sector's expectations."
Saying that challenges were seen on economy due to poor capital expenditure against the government target, Minister Dr Mahat hoped that capital expenditure will be as per the target in the current fiscal year. "We could not put sufficient budget on the heading of capital expenditure. But, liquidity will increase in the economy if we could spend the allocated amount," he hoped.
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