Finance Minister Dr. Prakasharan Mahat has said that the interest rates of banks and financial institutions will decrease immediately. Addressing a program organized by the Party Palace and Catering Professionals Association, Kathmandu on Saturday, Minister Mahat claimed that the interest rates will soon be reduced as there have been many complaints that businessmen have been hit by high interest rates from banks and financial institutions.
Minister Mahat said that he has told Nepal Rastra Bank to reduce the high interest rate and it will be addressed through the monetary policy of the next financial year. Similarly, Minister Mahat claimed that he has been working on reducing the interest rate since the beginning, saying that industrialists and businessmen have been hit hard due to economic recession, contraction in production, covid etc.