NA approves ‘National Debt Recovery Bill, 2083’

Kathmandu: The meeting of the National Assembly endorsed the ‘National Debt Recovery Bill, 2083’ today.

The Bill, which was received from the House of Representatives along with a message, was presented for approval following a clause-wise discussion. It was approved by a majority vote.

In the meeting, Finance Minister Dr Swarnim Wagle tabled a proposal to pass the Bill without additional suggestions and send it back to the HoR.

Earlier, the Minister had advanced the proposal for clause-wise discussion on the Bill. In response to the questions raised during deliberation, Minister Dr Wagle pledged enforcement of suggestions, arguing that the government is aware that loans should be invested in a productive manner.

Admitting that Nepal has witnessed a rise in debt in the last eight years, especially after Covid-19, Finance Minister Dr Wagle said that the loans should be taken for essential development works to achieve the goals set by the government and even to repay pending debts.

The State currently has a debt of about Rs 3,000 billion, he said, adding that the Office of the Public Debt Management is handling it. NA members Mina Singh Rakhal, Samjhana Devkota, Rukmini Koirala and Somnath Portel participated in the deliberation.

They said that only adding debt is not an achievement. It must be ensured with transparent distribution and direct returns in the sectors like agriculture, energy and others, he added.

RSS