KATHMANDU, May 19: Nepali Congress lawmaker Dr Minendra Rijal on Thursday said that the existing structural impediments are the main causes behind the slow and low capital expenditure in the nation.
Delivering his views on the principles and priorities of the Appropriation Bill for the upcoming fiscal year in a meeting of the House of Representatives today, Rijal urged the bodies concerned, lawmakers and the finance ministry to undertake efforts to end the culture of promoting ‘the stagnant capital expenditure’.
Erosion of political capital
The Nepali Congress lawmaker was of the view of focusing on domestic food production, promotion of industries and enterprises and a clear policy on the public-private relations to correct the Balance of Payments (BoP) deficit.
He explained that the current economic problems in the nation resulted not just due to the incumbent government, urging people not to forget the fact that the size of foreign loan was increased during the leadership of the erstwhile government led by the current opposition CPN-UML.
He took time to claim that the trend of highlighting the railway and ship operation projects, and view tower construction projects had further worsened the matter.
As he said, a cursory look at the priorities of the budget for the fiscal year showed that they were realistic and result-oriented, and urged the ruling and opposition parties to be serious on the issues of economy.
