KATHMANDU, OCTOBER 8
Prime Minister KP Sharma Oli emphasized the need for a paradigm shift in development, beyond mere reforms.
At the 59th Board meeting of the Investment Board of Nepal, PM Oli, who also chairs the Board, urged officials to eliminate delays and simplify legal and procedural complexities. He stated, "We need a paradigm shift, not just general reforms. Amendments to outdated laws won't be enough. The Board should be reinforced with experts, energetic youth, and capable human resources."
PM Oli also discouraged officials from prolonging consultations and file reviews, instructing them to prioritize national interests and resist undue pressure from any parties. He mentioned, "To expedite this, we are implementing a tracking system to monitor the status of files. We've decided that files must be resolved within three days of receipt."
The meeting gave theoretical approval to a four-year strategic and business plan proposed by the Board's CEO, Sushil Gyawali. This marked the first Board meeting since Oli's reappointment as Prime Minister and Gyawali's appointment as CEO.
The Board also approved its current fiscal year's budget of Rs 188.3 million and finalized the performance contract indicators for CEO Gyawali. After the meeting, PM Oli and CEO Gyawali signed a work performance contract.
The Investment Board facilitates projects with investments exceeding Rs 6 billion, including hydropower projects generating over 200 megawatts.