KATHMANDU: Finance Minister Swarnim Wagle has stated that the government is preparing to roll out five special packages to stimulate and revitalize the economy.

Speaking at the 28th Annual General Meeting of the Society of Economic Journalists – Nepal (SEJON), he informed that work is progressing through five distinct packages covering various sectors to reform the economy.

The Finance Minister stated that under the first package, necessary work is underway for the rehabilitation and reconstruction of areas damaged by the Bhote Koshi flood.

He informed that studies have already been completed to provide relief and rehabilitation to flood-affected industrialists, entrepreneurs, and the general public.

Under the second package, preparations are being made to introduce a 10 to 12-point policy reform plan within a week to address the sluggish capital market.

Informing that preparations are underway to announce a special package soon for the promotion and recovery of the private sector, Finance Minister Wagle stated that this would be brought forward as the third package.

Under the fourth package, he shared that the government is working as a priority to remove Nepal from the Financial Action Task Force (FATF) ‘grey list’.

Under the fifth package, Finance Minister Wagle stated that efforts are focused on mobilizing international finance for the reconstruction of damages caused by the Bhote Koshi flood.

“We have also moved forward in the direction of bringing in international funds and managing them effectively,” he said.

Anjan Shrestha, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), emphasized that due to the unimaginable damage caused by the Bhote Koshi flood, the government must introduce a special package for affected industrialists, entrepreneurs, and traders to promote the private sector.