Kathmandu, May 20: Finance Minister Dr Prakash Sharan Mahat has held discussion with Finance Committee under the House of Representatives regarding latest state of the economy and indicators today.
On the occasion, Finance Minister Mahat shared that priority would be given to promote Nepali industrialists and entrepreneurs in upcoming budget and the government would remain active in promoting Nepali industry and business.
During the discussion, lawmakers enquired about current situation of economy. Responding to queries of lawmakers, Minister Mahat opined, “We should not close the doors of our progress going abroad saying there are no opportunities in the country. We have to create opportunities in the country. It should be kept in priority and there is no doubt on it. The capacity of youths should be utilized in the country.”
He laid emphasis on the need of increasing production within the country. FM Mahat expressed commitment to utilize his knowledge and experience to improve country’s economy.
He said, “There is a need of reform in economy. I will work honestly to resolve the problems utilizing my knowledge and experience. I do not say I will settle all problems within two months. It will be resolved gradually.”
Stating that main challenge is surfaced in implementation of development construction activities and planning, Finance Minister Mahat mentioned that a trend of demanding resources after nine months of fiscal year has been discouraged.
FM Mahat opined, “My entire focus will be on whether capital expenditure and revenue mobilization leads to quality production or not. I am working rising above the partisan and personal interest as it is the matter of country and the people.”
He further said it was necessary to review whether the foreign loans have helped our economy or not. Minister Mahat viewed, “It is not possible to bring loan immediately as per the our need. It has also its limits and we need to show our ability to spend. Our capital and interest is increasing. We have not been able to reimburse the loan taken during earthquake. Pressure will be increase on general and capital expenditures if we start focusing our attention on reimbursing loan.”
Lawmakers—Surya Bahadur Thapa, Padam Giri, Dr Swarnim Wagle, Biraj Bhakta Shrestha, Gyanendra Shahi, among others inquired about recent condition of country’s economy in the meeting.
