The Nepali government has formed a task force to study the likely consequences of global financial meltdown on Nepal, local newspaper The Kathmandu Post reported on Monday.

    The task force is headed by Dr. Pitambar Sharma, vice chairman of National Planning Commission.

    The task force includes acting governor of the central bank, Nepal Rastra Bank Krishna Bahadur Manandhar, Finance Secretary Rameshwore Khanal, economic advisor at the Ministry of Finance Shriram Poudel, president of Federation of Nepalese Chamber of Commerce and Industry Kush Kumar Joshi, and president of Nepal Bankers Association Radhes Pant as its members.

    Joint Secretary of the Finance Ministry Bimal Wagle has been appointed as the member secretary of the task force.

    The task force has been formed as experts have pointed at adverse effects on Nepalese exports, remittance earning and tourism, among others, due to the global crisis. It will closely monitor possible impact of the global crisis on Nepal and will make necessary policy-level recommendations to the government to enable it to take timely action to blunt the fallout.