Govt will revise principles and priorities, says Finance Minister

KATHMANDU: Minister for Finance Barsha Man Pun has said that the principles and priorities of the Appropriation Bill for the fiscal year 2024/25 will be revised.

Participating in the deliberation on the principles and priorities of the Appropriation Bill for the upcoming fiscal year 2024/25, Pun said the principles and priorities document will be revised based on necessity and by taking the Common Minimum Program of the new five-party alliance into consideration. He also said the good aspects of the principles and priorities presented by the outgoing finance minister will be continued.

Responding to questions raised by lawmakers, Pun said the new budget will focus on achieving the government’s commitments to Sustainable Development Goals (SDGs). “The government is dedicated to fulfilling people’s desire for rapid development and accelerating the journey towards prosperity,” he said. “The government is sensitive to the issues raised in the parliamentary discussion and will include them in its policies and programs, and the budget.”

Pun said the government will advance under-construction projects and adopt a policy of maximizing internal and external resources for development projects to end the current economic stagnation. “An environment conducive to mobilizing domestic and foreign capital will be created,” the finance minister said.

He added that the government would bridge the growing revenue-expenditure gap by bringing about revenue reforms, being austere in government expenditure, and identifying and mobilizing new foreign aid sources. “The potential of mobilizing concessional green finance would be maximized. Appropriate projects and programs will be implemented to lessen the impacts of climate change,” Minister Pun added.

Pun said the new government will bring a budget that will strike a balance between education and employment. “Basic health facilities will be available at all local units. Likewise, we will ensure people’s access to health services through health insurance schemes,” he added.