Kathmandu. Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has said it was not possible to meet the development needs only with revenue.
Speaking at a programme in the capital today, he said the budget for the upcoming fiscal year has provided an alternative finance fund and the financial crisis seen in infrastructure construction would be met from it.
According to him, it is difficult to meet the development needs with the available resources. This budget has opened the door for the private sector to invest by balancing costs and returns. The government hopes that it will also address the challenge of resource management.
“The issue of lack of resources in infrastructure construction has been raised for a long time. We have also been discussing this issue. There are big projects. It’s an important project. The need for resources is wide. But limited resources are allocated. When will the project be completed with that limited source? Questions have been raised about how many years it will be completed. In that sense, the government has now made new arrangements from this budget. It is not easy for us to complete development infrastructure works only from the Treasury. Because we are seeing that the revenue is now in a position to bear only ordinary expenses. 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, however, said that it was necessary to move ahead in such a way that the revenue could build infrastructure.
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