Kathmandu. Minister for Industry, Commerce and Supplies Damodar Bhandari has claimed that the budget for the upcoming fiscal year will be realistic. He said this while inaugurating the 10th Nepal International Trade Fair in Kathmandu on Thursday.
He said that the government is in front of the budget and will come up with a budget that prioritizes investment sectors. He said that he will bring a solid budget by improving past shortcomings and maintaining economic discipline, and said that we are now trying to move forward with new modalities in areas such as industrial infrastructure, Special Economic Zone Authority and others for the expansion of Nepal’s industry and trade.
Minister Bhandari said, “The government will also bring the budget after some time. We are also in front of the budget. The budget for the upcoming fiscal year will be a realistic budget. It will be in the form of investment by prioritizing investment sectors. In this regard, we have failed in practice in this regard. Financial discipline, wherever there were violations. There were all kinds of problems within the system. The government will bring a concrete budget by identifying this matter. Now, an important bill has been proposed in the parliament on behalf of the government for alternative investment. It has moved forward to encourage the private sector. We are now trying to move forward with a new modality in the areas of industrial infrastructure, Special Economic Zone Authority and others for the expansion of Nepal’s industry and trade. That matter has been touched upon in the government’s policy program. It has been raised. Now, while constructing large industrial parks, we are moving forward with the PPP modality in the Special Economic Zone where infrastructure for exports needs to be built.’
Minister Bhandari claimed that the DDA of sick industries will be completed by keeping in mind the suggestions given by the High-Level Economic Advisory Reform Commission and that the DDA of sick industries will be completed by 15th of July and then move forward with the new modality.
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