Govt to allocate funds only for those projects carrying out preparatory work

KATHMANDU, FEBRUARY 27: Finance Minister Prakash Sharan Mahat has said that required funds will be earmarked only for those projects that have properly carried out the preparatory work. While presenting the Principles and Priorities of the Appropriation Bill for the fiscal year 2024/25 in parliament yesterday, he came up with such a statement.

“The numbers of the projects which are under construction in the country are simply overwhelming. As long as the financial resources for these projects are not assured, the government will not start any new project,” Minister Mahat said.

According to him, the government will be putting a premium on the promotion of domestic and foreign investment in hydropower, solar energy and other renewable energy sources. “Similarly, the utmost priority will be accorded to building storage infrastructure for agricultural products, providing subsidies for local productions to enhance their competitiveness and developing Nepal as an attractive destination for tourists,”he said.