Himalayan News Service

Kathmandu, June 7:

Finance minister Madhukar Shumshere JB Rana has expressed the government’s full support to meeting all the obligations made to all donors and assured support for basic operating guidelines. In an exclusive meeting with representatives of donors based in Kathmandu today, Rana gave his commitment. Requesting the donors’ support for inculcating a culture of democracy, Rana urged for flexibility, creativity and innovations from donors, saying that development activities in Nepal is at a ‘vulnerable point’. Rana also claimed that in spite of political instability, conflict and social tension, the economy is ‘stable’. “The government will take a number of measures to have a double digit growth within three years,” he told the donors.

Referring to increasing security expenses, Rana said, “Expenditure on security is an investment on peace, security, better revenue generation, better development delivery, more national savings and investment.” Representatives of 32 different bilateral and multilateral development partners of Nepal were present at the meeting. “It’s a special briefing for Nepal’s development partners since the government is going to unveil its annual budget for fiscal year 2005-06 soon,” said a senior official at the finance ministry. “It’s a regular briefing on Nepal’s economy and activities being carried out by the government of Nepal,” said a diplomat, who also participated in the meeting. He, however, declined to elaborate on donors’ perspectives.