KATHMANDU:- Finance Minister Rameshore Prasad Khanal has stressed the need for investment from Citizen Investment Trust (CIT) in long-term projects introduced by the government.
He made this remark while addressing the 36th anniversary of the Citizen Investment Trust on Wednesday.
Minister Khanal said that major national pride projects such as the Budhigandaki Hydropower Project, which has already received government approval, require investment not only from the CIT but also from other institutions.
He underscored the importance of eliminating double taxation, stating that fairness and policy facilitation in the tax system are essential.
Although the issue could not be resolved during his tenure, he expressed confidence that the upcoming government would address it.
Stating that preparations for issuing 15-20-year bonds are in the final stage, he said that such bonds would also help in reducing excess liquidity.
Highlighting the role of public-private partnerships, he said new infrastructure and agricultural projects could be advanced by easing land ceiling restrictions and encouraging private sector participation.
Recalling that the CIT was established in March 1991 during the interim government, he extended best wishes on its 36th anniversary.
He also noted that while key economic indicators remain positive, the evolving situation in the Middle East could disrupt supply chains.
Chairperson of the Board of Directors of CIT Tulsi Prasad Ghimire said the Trust’s consistent profitability since its establishment, along with the expansion of diverse schemes and growing participation, has been key to its success.
He emphasised the need to invest in productive sectors such as agriculture, tourism, energy, and infrastructure to support economic growth and job creation.
On the occasion, Executive Director of CIT Parbat Kumar Karki said the CIT is currently operating seven schemes and is working to channel resources into infrastructure development and expand investments through venture capital.
He said that necessary amendments to laws and regulations are under way, and that automation and mechanisation are being prioritised.
Karki also noted that declining interest rates have impacted the CIT’s income.
Stating that there is confusion regarding taxes in the payment of the gratuity fund, he said, “The function of social allowances given by the government can be provided by the civil pension scheme launched by the fund. However, for that, the government must adjust the tax rates.”
President of the Nepal Bankers’ Association, Santosh Koirala, called for the development of new investment instruments and projects, while also highlighting challenges in loan recovery faced by banks.
Former chairperson of CIT Dr. Mahashram Sharma said the CIT has been contributing to economic and social transformation.
Similarly, President of the Nepal Financial Institution Employees’ Union, Achyut Paudel, stressed the need to enhance employee career development and benefits.
President of the Citizens Investment Trust Employees’ Union, Netra Bikram Thapa, urged the government to introduce tax concessions in the upcoming budget and provide limited competitive opportunities for contract employees.
On the occasion, outstanding employees and security personnel involved during the Gen Z movement were honoured.