Ministries yet to submit proposals

Different ministries have once again failed to heed the Finance Ministry’s call to start spending the capital budget on time as very few have so far forwarded project proposals for approval at the National Planning Commission (NPC), the apex body that formulates country’s development plans.

Finance Minister says budget implementation begins

Minister for Finance Shanker Prasad Koirala has said that the recently unveiled fiscal budget has entered its implementation phase.

Inaugurating a day-long training to economic journalists here in Capital on Saturday, Minister Koirala informed that all the projects would get the Nation Planning Commission’s nod by the end of July.

Challenges greet new budget

“Announcement of a full-fledged budget in time itself is a great success of the government at a time when country has already seen disruptions in the process of bringing out the annual budget for the last four years,” Finance Minister Shankar Prasad Koirala told a press conference a day after the budget for current fiscal year was announced on Sunday.

The government succeeded in bringing out the full budget amid uncertainty over the fate of the budget for the current fiscal year on the back of increasing lobbying from left-leaning parties and Madhesh-based parties not to get a full-fledged budget announced with programs having long-term impact by this election government.

Finance Minister Koirala pledges investment-friendly environment.

Finance Minister Shanker Prasad Koirala has said that the government was fully committed to creating an investment-friendly environment in the country.

Inaugurating the information technology building at the Company Registrar's Office on Friday, Koirala who is also the Industry Minister said that considering this fact the government was also mulling reforms for officials' conduct and manner as well as procedural reforms.

Shifting the works of the Company Registrar's Office into information technology was a beginning of procedural reforms adding that additional programmes would be conducted for capacity enhancement and career development of the officials soon.

Budget misses programmes for products not included in NTIS list

The budget has duly mentioned about the promotion of 19 products in the Nepal Trade Integration Strategy (NTIS) 2010 list but it has failed to bring special programmes for other exportable products that also hold high export potential. According to exporters, the government should have listed carpets, readymade garments, woodcraft and stonecraft among NTIS priority products.

Garments, carpets, pashmina and handicraft products were defined as special focus area for export promotion but NTIS failed to include carpets and garments, though they were recognised as products with comparative advantage by the Nepal Trade and Competitiveness Study.