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Ex-minister lauds government's efforts for economic prosperity

B360
B360 May 7, 2024, 10:44 am
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KATHMANDU: Former Finance Minister Bishnu Prasad Paudel commended the government's efforts towards economic prosperity, facilitated by a stable political environment.

During an economic discussion hosted by lokantar.com on Monday, marking its 8th anniversary, CPN (UML) Vice-Chairperson Paudel explained that his party took the initiative to form a new ruling coalition with the aim of economic progress.

He stated, "The current government is navigating towards stability, despite attempts from external forces to destabilise the coalition." He praised the government's positive initiatives in fostering an investment-friendly environment, generating employment opportunities, and boosting the production sector.

However, Nepali Congress leader and former minister Minendra Rijal expressed his disappointment over the change of government for political interests, which he said is counterproductive to economic development.

He emphasised that the government should prioritise the agenda of economic prosperity over power interests. "The government should not merely assert that there is an investment-friendly environment, but it should be demonstrated in practice," Dr Rijal argued.

Also speaking at the event, Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal stated that the government was striving to create a positive environment by organising an investment conference. He suggested that the focus should now shift towards amending laws and increasing capital expenditure.

At the discussion, Finance Minister Barsha Man Pun committed to altering the scope of taxation in a transparent manner, guided by the recommendations of the Revenue Advisory Committee and the suggestions of stakeholders.

He asserted that the number of people emigrating has decreased and efforts are underway to repatriate those who have left the country.

He mentioned that the process of transferring knowledge, skills, and capital from those who have gone abroad is in progress, highlighting that a positive example has been observed in the field of information technology.

Furthermore, he pledged to introduce programmes in the forthcoming budget to inspire the populace and motivate the youth.

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