Kathmandu. Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has said that the budget for the upcoming fiscal year has also provided an alternative finance fund as the available resources do not seem to meet the needs of development works.
He said this while speaking at a discussion on infrastructure sector and implementation in the budget for the upcoming fiscal year jointly organized by the Society of Nepal Infrastructure Journalists and the Federation of Contractors’ Association of Nepal on Wednesday.
According to him, the budget for the next fiscal year has also provided an alternative finance fund as the available resources do not meet the needs of development works. He said that this budget has opened the door for the private sector to invest by balancing the cost and return.
It is also expected to address the challenges of resource management, he added. “The issue of lack of resources has been raised for a long time. We have made new arrangements from this budget. We are not capable of completing development infrastructure works only through treasury,” he said. Therefore, we are preparing to set up an alternative development finance fund.
This will encourage the private sector at home and abroad to invest in infrastructure development. He said that there may have been some shortcomings in the upcoming fiscal budget as no subject is 100 percent. “999 is also written in gold. Such numbering is done to show that 100 percent things do not happen in anything,” he said, adding, “There are some shortcomings in this budget as well.” We have tried to make reforms through this budget for all, including those who had hoped for infrastructure construction. ‘
He said that efforts have been made to avoid comments before the budget. He said that he was satisfied that the budget has been made realistic and implementable. According to Poudel, the question is whether capital expenditure can be increased or not.
He said, “This budget has been able to limit certain expenditure. This budget has been prepared with the intention of managing resources and not misusing it. Admitting that the budget was not enough on big highways, he said the practice of not placing projects costing less than Rs 30 million has been started.
He said that it would be easier to establish good practices in the upcoming budget in the coming years. “It has also managed the liability created in small project reduction projects,” he said. He said that the issue of making concrete, cement and rod has been forwarded for the construction of sustainable infrastructure.
Although the 14th amendment has addressed some issues on the issue of public procurement regulations, some issues are yet to be addressed, he said. He said, “We will move forward with the amendment by discussing it openly for this.” He also said that a conclusion would be reached after discussing the legal problems seen regarding the projects in sick condition. “The government is aware that the project work has been delayed due to lack of mining and construction materials in the projects.
Provisions have also been made in the budget on how to solve this issue. We will have enough to solve all kinds of problems related to mining issues so that there is no shortage of project construction materials,” he said. According to him, contracts are awarded and deadlines are fixed, but due to lack of construction materials, the work is delayed. But he claims that such a situation will not happen in the coming days.
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