Finance Minister shares austerity measures, redundant projects cuts to secure election funding

Kathmandu: Former finance secretary, Rameshwar Prasad Khanal, picked by Prime Minister Sushila Karki as her Cabinet member, to sustain the economy in the face of present adversity has explained the measures how the austerity could be adopted to cope with the situation and return economic normalcy.

Mandated to hold the election to the House of Representatives (HoR) coming March 5, the government has forwarded the measures- wiping out all small-scale and redundant projects so that budget for the slated elections could be managed.

Finance Minister Khanal reminded that neither donor agencies nor neighboring countries should be sought help for the budget to hold the March 5 election. In a meeting with the newly elected executive committee of the Society of Economic Journalists of Nepal (SEJON), he informed there over 1,300 projects not entered in the project bank, but approximately Rs 100 billion was allocated to such projects.

The government seminars and meetings that could cost as high as Rs 12 billion could be slashed accordingly. ‘Because the main focus of the government has been the election and Rs 25 billion was previously spent to conduct three-tier elections, it would cost less this time,’ Khanal added.

Clearing obstacles to hold the elections as also discussed like the preparation from the Election Commission, Minister Khanal said, adding that Ministry would soon manage the budget for the election once the Commission finalizes necessary preparations for elections.

‘Business Recovery Plan’ was another point in the to-do list of the government, according to him. Restoration of public confidence, guarantee of medical treatment to the injured and financial assistance or compensation to the families of those who lost their lives are other priorities of the government as the Minister explained.

RSS