KATHMANDU: National Planning Commission (NPC) Vice-Chairman Dr Gunakar Bhatta has said that the microfinance sector is at a crucial stage and there is growing concern about its sustainability.
He said this at a program organized on the occasion of the 11th memorial day of Dr. Harihardev Pant on Sunday. He said that the question now is how to maintain the microfinance sector in the coming days and how to overcome the challenges faced in it.
Bhatta also said that the time has come to amend the microfinance policy brought by the Nepal Rastra Bank 20 years ago. He said that the contribution of microfinance is important to protect small entrepreneurs.
Vice President Bhatt said that microfinance will also contribute to the poverty alleviation in the society and increase financial literacy. He recalled that Dr. Harihar had made a great contribution to the development of micro enterprises through microfinance.
Bhatta expressed happiness that his son Janardan Dev Pant has followed the pace of Harihar’s work.
Former chairman of the then Insurance Limited, Fatta Bahadur KC, said that microfinance has helped a lot in poverty reduction in Nepal. He said that Pant’s guidance would be more necessary in Nepal’s microfinance after a pandemic like Corona. He said that Dr. Pant’s contribution should be remembered at a time when microfinance is under attack from all sides.
On the occasion, Rewat Bahadur Karki, former chairman of the Securities Board of Nepal, remembered that Dr Pant was a person who worked without any selfish interest. He claimed that Pant’s contribution was not only for the poor but also for the welfare of the country. Pant recalled that even when he was in the Rastra Bank, he was like an institution rather than an individual. He said that there was a fear that microfinance would also be sidelined when the policies were fluctuating from time to time in Nepal.
On the occasion, Chairman of Nirdhan Utthan Laghubitta Bittiya Sanstha Janardan Dev Pant said that the target group should be reached by overcoming the challenges seen in microfinance. He said that happiness, peace and prosperity can be achieved through microfinance.
Prizes were given in various categories on the occasion. This year, the ‘Dr. Harihardev Pant Economic Journalism Award’ instituted in memory of Dr. Harihardev Panta, the father of microfinance, has been given to Ashish Gyawali, editor of Nivesh News.com. The award of Rs 1 lakh established by the Pant Foundation was presented to Gyawali, the editor of the 11th annual death anniversary of Dr. Panta.
Editor Gyawali has donated Rs 25,000 from the prize money he received to journalist Kiran Adhikari of Nuwakot. Gyawali has donated the amount to him who was affected by the floods in Bhotekoshi.
On the occasion, Rasila Tamang of Bagmati Province was awarded the Micro Entrepreneur Award. Similarly, the Educational Excellence Award was given to Kamal Poudel. The prize money is Rs 50,000 each.
