"Only 25 percent private sector related projects fully implemented"

KATHMANDU, AUGUST 22: According to a report, only 25 per cent of the private sector-related plans and programs outlined in the budget statement of the last fiscal year were fully executed. The "Budget Watch" report, prepared by the Confederation of Nepalese Industries (CNI) and the Society of Economic Journalists of Nepal (SEJON), revealed that the implementation of the 73 points related to the private sector and the economy, included in the budget for the fiscal year 2023/24, was largely dismal.

While 18 points included in the budget were fully implemented, 51 points were partially enforced, and four points were not implemented at all, the report stated.

During the launch of the report yesterday, Chief Secretary of the Government of Nepal, Leela Devi Gadtaula, emphasized that thematic ministries and subordinate ministries should deliver responsibly for the effective implementation of the government's annual budget. She mentioned that the list of new works to be carried out by the incumbent government and programs to implement the annual budget was being prepared.

"The incumbent government is preparing action plans to be executed within 100 days. It will be important to set priorities and give an impetus to their implementation," asserted Gadtaula. She added that the desired results are likely when the concerned ministries and agencies work responsibly and remain accountable for implementing the issues in the budget.

Similarly, CNI President Rajesh Kumar Agrawal noted that the "Budget Watch" was initiated to oversee the implementation status of the government's commitments through the annual budget. He expressed hope that the conclusions and findings of the report would be useful to policymakers and the government.

According to Agrawal, although the implementation of the budget recorded some progress in the last fiscal year compared to the previous fiscal year, the overall implementation status painted a bleak picture.

The report mentioned that most of the points included in the last fiscal year were related to policy and law formulation. However, in the absence of acts, regulations, legislation, and procedural guidelines, most of the programs and plans could not make headway.