Kathmandu. Prime Minister KP Sharma Oli has said that action will be taken as per the law if any illegal foreign exchange is found to be misused. While answering questions raised by lawmakers in today’s meeting of the House of Representatives, Prime Minister Oli clarified that legal action will be taken as per the Foreign Exchange Regulation Act, 2021.
He said that arrangements have been made to allow investment exchange in the information technology sector. “The provision prohibiting anyone from investing in any kind of security, partnership in a foreign firm, account in a foreign bank, or real estate abroad has already prohibited such activities,” said Prime Minister Oli. “Article 25 of the Constitution of Nepal includes the right to acquire, enjoy, sell, receive commercial benefits, and engage in other transactions with property under the right to property, subject to the law. The provision for land limits and the adoption of a progressive tax system have already provided for the delimitation of property.”
Prime Minister Oli stated that the Constitution of Nepal provides for free and compulsory school education up to the basic level and free education up to the secondary level, and that university education can be made free in the future as long as resources allow.” .
Article 16 of the Constitution of Nepal states that no law shall be made to punish anyone with the death penalty for the right to life with dignity, and since Nepal is a party to the Second Optional Protocol to the International Covenant on Civil and Political Rights, which aims to abolish the death penalty, it is not possible to make legal provisions to punish corrupt individuals.
Prime Minister Oli stated that the preamble of the constitution mentions the provision of a state with an inclusive, just, equitable, public welfare and socialist-oriented economy along with socio-economic transformation of the country, and that various fundamental rights have been provided in accordance with this spirit of the preamble, and that Article 43 of the constitution provides for the right to social security. Stating that the current government is committed to implementing the concept of ‘Prosperous Nepal, Happy Nepali’ by focusing on achieving a socialist-oriented economy through high economic growth, fair distribution and equal access to development for all, he informed that various social security programs have been introduced to embody socialism.
In order to make social security successful and effective, social security schemes have been launched to provide relief to women, children, senior citizens, people with disabilities, gender and sexual minorities, farmers, workers and backward areas to manage risks at all stages of the human life cycle. Prime Minister Oli informed that the Social Security Fund has also been developed as an important mechanism of social security.
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