Apr 14, Kathmandu- An accumulated investment fund will be established to create investment opportunities for Nepalis living abroad including those in employment. The decision was taken at a cabinet meeting on Wednesday, said Finance Minister Janardan Sharma.

In a virtual interaction organized by the Non-Resident Nepali Association (NRNA) on Wednesday, Minister Sharma said, "We are setting up a reserve investment fund. Nepalis living abroad can save up to two / four thousand dollars a month. We will spend that fund on high-return projects. He also informed that the government would provide additional funds.

He said that efforts were being made to involve non-resident Nepalis in the development and prosperity of the country, adding that the country was not in a state of crisis. He said, "But we have to move forward with vigilance and vigilance."

On the occasion, Finance Secretary Madhu Kumar Marasini, while addressing the queries of non-resident Nepalis, said that the country was not in trouble but efforts were being made to involve non-resident Nepalis in the development of the motherland.

He said, “There is no problem and hassle in depositing and investing in Nepal, investment is safe here. There is no hassle of bringing and taking money here, we have never defaulted and never will. ” He informed that discussions are underway to reserve a certain number of shares for those who have gone for foreign employment, to involve non-resident Nepalis in investing in some public institutions, and to make it easier for non-resident Nepalis to invest Rs 50 million in foreign investment.

Kamu Governor of Nepal Rastra Bank Dr. Neelam Dhungana Timsina said that non-resident Nepalis have no problem in opening and operating accounts in banks and financial institutions. He informed that NRB is facilitating this. On the occasion, the founding president of NRNA, Dr. Upendra Mahato urged all Nepalis living abroad not to delay in opening an account and depositing money.

He said that there was no problem in bringing and taking money but depositing money in Nepali Bank would earn a lot of interest. Dr. Mahato said, "Nepal is not about to sink, Nepal is stable, even if the law changes later, it will not affect."

The newly elected presidents of NRNA, Dr. Kul Acharya, Ravina Thapa, Dr. Badri KC, Vice President Bhushan Ghimire, and others said that there was an opportunity for non-resident Nepalis to connect with the motherland and urged everyone to help by opening a dollar account in Nepal. He informed me that NRNA will run a campaign to open a dollar account. The NRNA has launched this campaign at a time when the country's foreign exchange reserves are declining.

According to Nepal Rastra Bank, the balance of payments is in a deficit of Rs. 258.64 billion by mid-February. 68.11 billion in the corresponding period of the previous year. The balance of payments, which stood at Rs. 565.8 million in the corresponding period of the previous year, had a deficit of Rs. 2.17 billion during the review period.