Nov 08, Kathmandu - Nepal Rastra Bank Governor Bishwao Poudel has said that the economy should move forward with high morale by utilizing existing resources.

In an economic debate organized by the Federation of Nepalese Chambers of Commerce and Industry, he said that interest rates are low, liquidity is abundant, and foreign exchange reserves are strong.

He called for the private and public sectors to coordinate and create demand.

Governor Poudel urged all parties to utilize the current economic situation positively.

He said, 'For the government or the National Bank to help, businesses need to help them first.'

He said that only the active participation of the private sector can give momentum to the economy.

He highlighted the importance of morale by linking the economy with the principle of 'self-fulfilling prophecy'.

Governor Poudel said that there is more than 800 billion liquidity parking in the market, more than 12.5 billion dollars in foreign exchange reserves and the government is in a position to raise resources at 2.75 percent interest.

The governor said that private sector assets should be considered as national assets.

He mentioned that department stores, infrastructure, hydropower, schools and hospitals are common assets.

He considered evergridding (the tendency to take new loans to repay old loans) as a problem and suggested that inefficient firms should be 'let it go'.

He also said that the number of about 150,000 people on the blacklist has increased due to cheque bounces, which has hampered credit growth.