KATHMANDU, SEPTEMBER 18
Former Finance Secretary Rameshwar Prasad Khanal, appointed by Prime Minister Sushila Karki to her Cabinet to stabilize the economy amid the current crisis, has outlined measures for adopting austerity to cope with the situation and restore economic normalcy.
Tasked with holding the House of Representatives (HoR) election scheduled for March 5, the government has proposed eliminating small-scale and redundant projects to free up resources for the polls.
Finance Minister Khanal emphasized that Nepal should not seek assistance from donor agencies or neighboring countries to fund the election.
Addressing a meeting with the newly elected executive committee of the Society of Economic Journalists of Nepal (SEJON), he revealed that over 1,300 projects had not been included in the project bank, yet nearly Rs 100 billion had been allocated to them.
Government seminars and meetings-estimated to cost up to Rs 12 billion-would also be curtailed. "Since the government's primary focus is the election, and considering that Rs 25 billion was previously spent to conduct the three-tier elections, the cost will be significantly lower this time," Khanal noted.
He further stated that removing obstacles to the election was under discussion, with preparations already underway at the Election Commission. The Ministry of Finance, he assured, would allocate funds once the Commission finalizes the required arrangements.
Khanal also highlighted the government's "Business Recovery Plan" as a key priority. Restoring public confidence, ensuring medical treatment for the injured, and providing financial support or compensation to the families of those who lost their lives were among the immediate commitments he outlined.
(With inputs from Rastriya Samachar Samiti)
