KATHMANDU, JANUARY 29

Prime Minister Pushpa Kamal Dahal has announced that the federal government will not implement projects with a budget of less than Rs 30 million.

The PM stated that the federal government will only implement projects with budgets exceeding Rs 30 million to directly contribute to the people's sense of development and to eliminate duplications in projects among the three tiers of government.

Addressing the inaugural session of the 20th establishment day and National Council meeting of Press Centre Nepal on Monday, the PM shared that preparations are underway to introduce the new budget and policy and programmes for the upcoming fiscal year in collaboration with all stakeholders.

He mentioned that unilateral unveiling of budgets and policy and programmes in the past did not yield positive results, and emphasized the importance of extensive consultations with civil society, politicians, people's representatives, and other stakeholders in formulating the budget.

PM Dahal emphasized that the new budget will prioritize the completion of ongoing projects before initiating new ones. He expressed concern that the addition of new projects without completing the previous ones has only led to a debt trap, hindering development.

The PM highlighted the focus of the new budget on production and employment generation, adding that the government is preparing to revitalize struggling industries in the country. 'The government plans to revive the Biratnagar Jute Mill, Hetauda Textile Industry, Gorakhkali Tyre Industry, and Butwal Yarn Industry in the first phase,' he stated.