KATHMANDU: Finance Minister Rameshwor Prasad Khanal has expressed commitment to revise the existing regulations for development fund that the Non-Resident Nepali Association is going to launch.

During a discussion with high-level delegation of the NRNA, he assured of providing support for policy-level arrangement and grant permission.

Stating that obstacles surfaced for the operation of the fund would be removed by revising the regulations related to Securities Board, the Finance Minister opined a positive and practical step was needed for it.

Similarly, NRNA President Mahesh Kumar Shrestha shared that Nepalis across the globe were eager to invest in Nepal and requested to ensure 85 per cent participation in IPO.

Mentioning that migrant communities would provide support in country’s economic and development projects in an effective manner through Nepal development fund in coming days, Shrestha also pledged support in development endeavours of the government.

Likewise, NRNA Founding President Dr Upendra Mahato and former President Kumar Panta also urged for immediate revision in the necessary regulations and policies to forward establishment of the fund.

A fund of Rs 10 billion is going to be set up and operated in order to invest in Nepal’s infrastructure sector in collaboration with and coordination of the government.

The government will have five per cent investment while 95 per cent from the NRNs in the fund, it is said.