Finance Minister insists on growth in power production for economic prosperity

Kathmandu: Deputy Prime Minister and Minister for Finance, Bishnu Paudel, has said economic prosperity could be achieved by increasing power generation.

During his address to a programme organised by the Nepal Association of Financial Journalists (NAFIJ) here Friday, the Finance Minister said it is equally important to ensure the purchase of power and enhance consumption capacity while seeking production growth.

Paudel expressed commitment to introducing policies that encourage private sector investment in hydropower developments. He also echoed the need for flexible banking and financial policies to protect such investments.

Underlining the need to expand both the tax net and tax rate, he stated that the government is in favour of a stable tax policy.

He acknowledged that taxation policies have an overall impact on the country’s development so collective support was imperative to maintain relative stability in tax policies and rates.

He also reiterated the government’s commitment to addressing irregularities in business practices.

On the occasion, several journalists contributing to economic development through reporting were honoured.