PM Oli pushes reforms to boost jobs and fast-track national projects

KATHMANDU, FEBRUARY 16: Prime Minister KP Sharma Oli has stated that the government is consistently working on legal and institutional reforms to promote investment and create employment opportunities in the country.

Responding to lawmakers' questions in today's meeting of the House of Representatives, he emphasized that priority is being given to programs aimed at boosting production, productivity, and employment to provide job opportunities for unemployed youth.

“The government is providing concessional loans of up to Rs 2.5 million to startup enterprises to stimulate employment opportunities. This fiscal year, 1,000 people are expected to receive these concessional loans,” he said.

Stern action against foreign currency misappropriation

Prime Minister Oli warned that strict legal action would be taken against anyone found misappropriating foreign currency. He clarified that such actions would be dealt with under the Foreign Exchange Regulation Act, 2021 BS. However, he noted that measures have been implemented to facilitate investment exchange in the information technology sector.

Property rights and tax system

Referring to Article 25 of the Constitution of Nepal, Oli affirmed that every citizen has the right to acquire, enjoy, sell, and benefit commercially from property within the legal framework. He added that property ceilings and a progressive tax system have been established in relevant laws.

Free education and no capital punishment

The Prime Minister reiterated the government's commitment to free and compulsory education up to the basic level and free education up to the secondary level, as mandated by the Constitution. He also mentioned that free university education could be considered in the future, depending on available resources.

Oli made it clear that capital punishment for corruption would not be implemented, as Article 16 of the Constitution guarantees the right to live with dignity, prohibiting the death penalty. Additionally, Nepal is a state party to the Second Optional Protocol of the International Covenant on Civil and Political Rights, which bans capital punishment.

Commitment to ‘Prosperous Nepal, Happy Nepali’

The Prime Minister reaffirmed the government's commitment to realizing the vision of ‘Prosperous Nepal, Happy Nepali’ by achieving high economic growth, equitable distribution, and equal access to development. He highlighted that various social security programs are being utilized to advance the goal of a socialism-oriented economy.

He added that the Social Security Fund has been developed as a key mechanism for ensuring social security.

Focus on timely completion of national pride projects

Prime Minister Oli emphasized the government’s seriousness about the timely completion of major national pride and priority projects, including the Sikta Irrigation and Babai Irrigation Projects.

He informed that out of the outstanding liabilities of these projects to be paid by the end of fiscal year 2080/81, Rs 22.43 billion has already been cleared.

To enhance the development pattern, speed, and culture, the project planning outline has been approved and implemented in collaboration with the National Planning Commission and relevant ministries.

Oli expressed confidence that this approach would ensure the effective and timely completion of projects by optimizing resource utilization. He added that he has been monitoring these projects from the 'Action Room' at the Office of the Prime Minister and Council of Ministers to facilitate their on-time completion.