Minister for Finance Janardan Sharma said that the rumours were being spread that that economy was facing crisis and urged not to go by such 'rumours'.
At an interaction on capital expenditure organized at the Ministry of Finance on Monday, Minister Sharma admitted that capital expenditure was dismal and it should be increased to address the issues relating to liquidity crunch.
Calling for amendment in existing acts and regulations relating to forest and environment to increase capital expenditure, the Minister urged all the ministries to increase their respective capital expenditure by 30 percent by mid-January.
He pledged cooperation on his part to complete development projects on time to increase capital expenditure.
According to him, the Finance ministry was preparing to transfer the fund to other ministries if any ministry fails to spend capital expenditure next year up to 30 per cent by mid-January next year. "Whichever ministries can spend capital expenditure as much as possible, those ministries would get the additional budget."
Failure to spend the capital expenditure up to 30 per cent will result in cut off of the budget, he warned. The Minister also urged the concerned authorities to formulate the rules and laws that help create enabling environment to utilize the timbers of Nepal within the country.
Sharma also appealed with the Ministry of Labour, Employment and Social Security to consider increasing the daily wage from existing Rs 517 to Rs 1000 per day for those employed under the Prime Minister Employment Programme.
Similarly, Minister for Home Affairs Bal Krishna Khand recommended that the tax-payer hotels and restaurants be allowed to run round-the-clock which, he viewed, would aid in generating more revenue.
He pledged to put in place necessary security arrangements for the same.
Likewise, Minister for Agriculture and Livestock Development Mahindra Ray Yadav argued that fixing the minimum price of rice would not suffice hence, he opined, the government should also arrange to procure rice from the farmers.
According to him, fertilizers could not be provided to farmers on time through bidding process hence and suggested that the government should consider procuring fertilizers through government-to-government process.
Also speaking in the interaction, Minister for Federal Affairs and General Administration Rajendra Shrestha said that vacancy should be announced to meet the need of technical staffs in the technical field since 40 per cent of total posts remain unfilled.
Minister for Forests and Environment Ramsahay Prasad Yadav shared that they were preparing to change regulations to fix the problems prevailing forest sector as well as to increase capital expenditure of his ministry.
Minister for Youth and Sports Maheshworjung Gahatraj said that interest rate of the loan to be provided by the Youth Self-Employment Fund should be lowered to encourage as many as youth for self-employment. He urged the Ministry of Finance to facilitate for the same.
The interaction was also attended by joint-secretaries of the various ministries including Ministry of Culture, Tourism and Civil Aviation, Ministry of Forests and Environment and Ministry of Industry, Commerce and Supplies among others.
Source: National News Agency Nepal