Government focused on employment creation and investment climate: PM Oli

Kathmandu: Prime Minister KP Sharma Oli has emphasized that the government is consistently driving legal and institutional reforms aimed at fostering employment opportunities by improving the country’s investment climate.

In response to queries from lawmakers during today’s House of Representatives session, PM Oli highlighted that the government has prioritized programs designed to boost production, productivity, and employment, with a focus on providing job opportunities for unemployed youth.

“The government is offering concessional loans of up to Rs 2.5 million to startup enterprises as part of efforts to create employment. In the current fiscal year, 1,000 individuals are expected to benefit from this program,” he said.

PM Oli also addressed concerns about foreign currency misappropriation, assuring the House that stern action would be taken against anyone found guilty of such activities. Legal action, he clarified, would be pursued under the Foreign Exchange Regulation Act of 2021.

Regarding the investment sector, the Prime Minister noted that arrangements have been made to facilitate investments in the information technology sector.

He referred to Article 25 of the Constitution of Nepal, which grants citizens the right to acquire, enjoy, sell, and engage in property transactions in accordance with the law. He also mentioned that the country has provisions for land ceiling limits and a progressive tax system.

On the topic of education, PM Oli reiterated that free and compulsory education up to the basic level and free secondary education are being implemented as per the Constitution. Looking to the future, he suggested that university education could also become free, provided the necessary resources are available.

The Prime Minister addressed a query about capital punishment for corruption-related convictions, stating that it cannot be introduced due to Article 16 of the Constitution, which guarantees the right to live with dignity. Nepal is also a signatory to the Second Optional Protocol of the International Covenant on Civil and Political Rights.

PM Oli reaffirmed the government’s commitment to the vision of a “Prosperous Nepal, Happy Nepali,” focused on achieving high economic growth, equitable development, and equal access for all. He highlighted social security programs as vital to realizing the goals of a socialism-oriented economy.

He also noted that the Social Security Fund has become an essential mechanism for ensuring social security.

Furthermore, Prime Minister Oli assured the House that the government is dedicated to completing national pride and priority projects on time. He expressed particular focus on the timely completion of large-scale projects such as the Sikta and Babai Irrigation Projects.

“As of the end of the fiscal year 2080/81, Rs 22.43 billion has been paid out of the outstanding liabilities for these projects,” he added.

PM Oli explained that project planning is being carried out in consultation with the National Planning Commission and relevant ministries to improve the development approach, speed, and overall execution.

He expressed confidence that these projects would be successfully completed on time by using available resources efficiently. The Prime Minister mentioned that he is actively monitoring progress from the ‘Action Room’ at the Office of the Prime Minister and Council of Ministers to ensure timely project completion.