Finance Minister Paudel pledges payment to construction entrepreneurs

Kathmandu: Deputy Prime Minister and Minister for Finance Bishnu Paudel assured that the government would pay the outstanding amount claimed by the construction entrepreneurs per the law.

At a programme organized by the Female Economic Journalists’ Association (FEJA) here Sunday, DPM Paudel said that the incumbent government was experiencing sheer inconvenience due to payment obligations left unsettled by the previous government.

He, however, optimistically added that the incumbent government was now in a position to settle all due payments as per the law. He claimed that no payment demanded as per law has been withheld so far. Shedding light on the government’s ongoing efforts to increase capital expenditure, the DPM emphasized the need for reforms in the Public Procurement Act, Forest Act and Environment Act.

To drive the reform, he informed that the government was paying attention to making regulation more effective. On a different note, the DPM argued that challenges surfaced in the economy after the banks and financial institutions significantly invested in real estate and the transactions in this sector did not gain momentum.

He, thus, called for collective efforts from both the government and private sector to revitalize the national economy and address the problems in real estate.

Regarding the ordinances brought by the government, he expressed confidence that those ordinances would play a strong role in policy reforms and boost the morale of the private sector. The introduction of ordinances was the result of the government’s policy reform initiatives, he stressed.

RSS