PM to hold meeting with top leaders on budget

Prime Minister of the care-taker government Madhav Kumar Nepal is planning to call the meeting of the top brass of the political parties to convince them on negative impact of delayed-budget on national economy.
"After 'failed' attempt to convince the former finance ministers today on the consequencies of delayed budget, premier is in mood to hold high-level meeting with the five poltical parties' top brass," said a source at the Prime Minister's Office (PMO).
"The PM is planning to hold meeting with UCPN-Maoist chairman Puspa Kamal Dahal 'Prachanda', CPN-UML chairman Jhalanath Khanal, Nepali Congress (NC) presidentSushil Koirala, Madhesi Janadhikar Forum- Democratic president Bijaya Kumar Gachhachhedhar and Madhesi Janadhikar Forum-Nepal president Upendra Yadav."
"Though all the former finance ministers, who took part today, agreed on negative impact of delayed-budget, no one could commit on behalf of their parties forcing the PM to hold another meeting with top leaders of their parties," the source added.
Former finance ministers -- Dr Baburam Bhattarai, Dr Ramsharan Mahat, Bharat Mohan Adhikari, Dr Prakash Chandra Lohani -- along with central bank governor Dr Yubraj Khatiwada, finance secretary Rameshwor Prasad Khanal, revenue secretary Krishnahari Baskota and Finance Ministry's advisor Keshav Acharya took part in today' meeting.
"The delay in budget will hit economic growth," the Prime Minister said, addressing the meeting he called in his office today afternoon.
The budget should have come by the mid-July but due to political dead-lock, the nation could not get budget even after three months of the fiscal year. The formation of new government has become a 'distant dream' as there has been no political consensus among the political parties.
The delay will hit the government spending that is the catalyst for the economic activities. The private sector is waiting for the budget and is shying away from any new investments.
"Politics has sabotaged the economy," said former finance minister Dr Lohani talking to the The Himalayan Times after the meeting. "If there is no possibility of forming new government, this government should to bring budget at the earliest."
Another former finance minister Dr Bhattarai -- one of the key ideologues of the UCPN-Maoists -- also showed serious concerns over the delay in the budget.
Former finance minister and the NC stalwart Dr Mahat agreed with Dr Bhattarai that the delay in budget will have serious consequencies on economy.
Finance Minister Surendra Pandey has on July 16 presented 'Special Budget' of Rs 110 billion for the regular expenses of the government that is valid for one quarter of the fiscal year.
After his resignation on June 30, Nepal is bearing the role of caretaker Prime Minister only. On the other hand, the House has failed to elect his successor despite eight rounds of voting.