Kathmandu, Sept. 23: Finance Minister Dr Swarnim Wagle has said the government will ensure that investments made by the Citizen Investment Trust (CIT) are transparent, secure and result-oriented.
Speaking during the theoretical discussion on the Citizen Investment Trust (Third Amendment) Bill, 2083, in the House of Representatives on Wednesday, Wagle said savings collected through institutions such as the CIT should be mobilized carefully to strengthen the country’s internal resources while managing external resources effectively.
He said the government must give serious attention to risk management when deciding how much flexibility can be given in mobilizing public funds generated from citizens’ savings, particularly when domestic savings are insufficient to meet national investment needs.
Lawmakers participating in the discussion stressed the need to ensure the safety, transparency and effective returns of CIT investments.
The CIT currently manages savings of around Rs 337 billion. Lawmakers called for stronger safeguards and mechanisms to ensure that the funds generate sustainable returns.
Lawmakers including Sushil Khadka, Krishna Hari Budhathoki, Nitima Bhandari Karki, Madhav Bahadur Thapa, Sitaram Sah, Prabha Dhakal, Janak Singh Dhami, Pukar Bam, Amrita BK, Radhika Ramtel, Devraj Pathak and Balawati Sharma took part in the discussion.
The bill will now undergo clause-by-clause discussion in the concerned parliamentary committee based on the amendments registered by lawmakers.
