The government has handed over
projects of national pride to the Investment Board as the projects have not
seen significant progress.
"The government has handed
over 14 projects of national pride to Investment Board for immediate implementation,"
said caretaker finance minister Barshaman Pun during the mid-term development evaluation
meeting here today.
Prime minister Dr Baburam
Bhattarai had listed 17 infrastructure projects as 'National Pride' in his
ambitious Immediate Action Plan, which he had unveiled with much fanfare last
February.
However, except for Upper
Tamakoshi hydropower, all the other projects have failed to move ahead smoothly
due also to the government's non-priority towards development and concentration
on politics.
Speaking, most probably, in his
last meeting at the Finance Ministry, Pun also mentioned of Nepal Investment
Year 2013, that has also not been moving ahead due to the government's apathy
towards creating an investment friendly environment and security concerns from
the private sector. Lately, the government has completely failed to boost the
private sector's confidence that has plunged to an all-time low due to repeated
attacks on them.
Boosting the confidence of the
domestic private sector is key to attracting foreign direct investment as they
are the bridge to bringing the foreign private sector to the country.
Pun, however, said that 60 per
cent of the civil work on intake of Rani Jamara Kulariya irrigation project has
been completed. "The construction of Babai and Sikta irrigation projects
has been going on," he added.
The country could not get a
full-fledged budget for the current fiscal year and has been operating through
the interim public expenditure arrangement, which has slowed down development
activities, he said, adding the government has spent Rs 7.66 billion under
capital expenditure by the end of mid-January.
The government has spent a total
of Rs 104.12 billion in the first six months of the current fiscal year.
"The total expenses is 29.59 per cent of the total estimation of
expenditure," said Pun, adding that of the total, a large chunk has been
spent on recurrent expenditure that is salaries and administrative expenses at
Rs 86.90 billion, whereas it spent Rs 9.55 billion under financial management.
"The government could do
very little due to limited space," Pun added, claiming that he has,
however, brought some regulatory changes, despite his limitations. "The
government has received Rs 15.76 billion foreign aid commitment in the first
half of the year, though it has been able to mobilise Rs 134.56 billion
revenue."
"Despite a slowdown in
economic activities, low agriculture production and industrial output, the
economy is expected to grow by 4.1 per cent," Pun claimed, downward
revising his earlier projection of 5.5 per cent growth. But development
partners — World Bank, Asian Development Bank and International Monetary Fund —
have projected economic growth at a little over three per cent for the current
fiscal year.
He, however, boasted of the road
expansion drive. "A total of 102.79 km road has been widened in Kathmandu
valley," he said, adding that some 84.69 km road in Kathmandu, some 15.60
km road in Lalitpur and some 2.50 km in road Bhaktapur have been widened so
far.
Likewise, under the cross
border customs road expansion to six lane plan to expedite external trade, the
government has started the expansion of Bhairahawa and Biratnagar customs roads
recently, Pun added.
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