15 December, Kathmandu. Finance Minister Janardan Sharma has said that the main problem now is the
inability to incur capital (development) expenditure. Speaking at a program organized by the Federation
of Nepalese Chambers of Commerce and Industry (FNCCI) in the capital on Wednesday, Finance Minister
Sharma said that the political situation was the main reason for this.
“The budget ordinance had to be given legitimacy through the replacement bill,” he said, adding that it
had affected the work. “The finance ministry is not going to spend it itself,” he said.
He says that now the work will pick up speed and there will be capital expenditure. He said that Nepal
Rastra Bank is taking initiative to fill the liquidity shortage in the banking sector.
Stating that investment should be increased in the potential areas of Nepal to make the country
prosperous, he called on the private sector to take initiative in that.
“Let’s study the areas where we can compete and become self-reliant,” he said. “The situation is
different then and today.”
He said the government was serious about keeping the economy afloat amid rumors of a new variant of
the Corona. Stating that they are marketing about opening an account from NRN, he said that efforts are
being made to manage liquidity in this way.
He said that the ministry would accept the suggestions received from the conference and called on the
government to make suggestions to the ministry for facilitation.
On the occasion, President of the Federation of Nepalese Chambers of Commerce and Industry Shekhar
Golchha suggested the government to immediately pass the MCC and implement it. Referring to the
non-receipt of foreign grants for five months, he said that projects like MCC would be more important in
the absence of foreign investment.
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Lack of capital expenditure is the main problem now: Finance Minister
