President Dr Ram Baran Yadav read out the 157-point program in the legislature-parliament on Sunday.[break]
The policies and programs also attempted to establish financial discipline by announcing to amend existing laws and adopting new measures including strengthening regulatory capacity of the government.
The policies and programs include the completion of much-touted Kathmandu-Tarai fast track road and Mid-Hill highway besides accelerating postal highway and North-South Highways to foster trade, tourism and economic activities in the country.
To end the tuin-related accidents, the government has also announced to adopt the policy of replacing the manual ropeway river-crossings with suspension bridges and to construct a tunnel route from the Oil Depot at Thankot to Jhaple River to ease the traffic congestion in Nagdhunga-Naubise portion of the Tribhuwan Highway. The government has also given priority to the development of railway and waterway in the country.
"Necessary organizational structure will be arranged for sustainable development of railway and waterway and related preliminary tasks will be initiated. A feasibility study on metro rail in Kathmandu Valley will be carried out," the President said while reading out government´s proposed policies and programs.
The government has also announced to develop infrastructure in regional, medium and small cities to manage scattered rural settlements through dense settlement programs.
"Programs will be conducted in a coordinated way to solve the problems of road, electricity, telephone, drinking water, waste management and traffic management in major cities including Kathmandu," he said. The government has announced to encourage apartment housing by amending existing laws and policies besides regularly monitoring construction sites.
The government has also announced to initiate development and construction works on the proposed Gautam Buddha, Pokhara, Janakpur and Surkhet regional international airports and a second international airport in Nijgadh, Bara, to strengthen domestic and international air connectivity.
Amid increasing power shortage amid rising demands, the government has announced to formulate a master plan for the development of hydropower in the country.
In order to ascertain the total hydropower generation potential, a study will be commissioned this year, which will be updated every ten years. The process of granting license for hydropower projects will be made scientific and transparent. "One door unit will be established for facilitating the implementation of projects and Nepal Electricity Authority, Electricity Development Department and Water and Energy Commission will be restructured in a timely manner," the policy and programs state.
The policies and programs have also expressed commitment to creating investment-friendly environment to lure domestic and foreign investments in hydropower development by providing security arrangements for hydropower projects. "To minimize the present energy crisis, special emphasis will be given on maximum generation from existing hydro power plants, demand management and leakage control," said the policies and programs.
The government is also going to prepare a master plan to strengthen the electricity supply system across the country. Under the program of "Light for All", a master plan on electrification will be prepared and "People´s Desire, Bright City" program will also be implemented by setting up street lamps in the Kathmandu valley and other major cities.
To enhance the involvement of local institutions and people, "People´s Hydro Power Program" will be launched in an effective manner.
The policies and programs also announced to conduct feasibility studies to utilize natural gas available in the country. Special emphasis will be given on exploration and drilling of petroleum products as well as metallic and non-metallic minerals in potential areas.
In order to promote investment-friendly environment, maximum efforts will be made to gradually reduce the cost of business transaction," said the government in its policies and programs for the coming fiscal.
The government has also announced revenue policy will be reviewed to help increase investment and promote exports and the Revenue Board will be constituted for effective revenue administration.
In a major policy departure to lure more savings from informal to the formal sectors, the government has announced to amend the existing system of obligatory declaration of income source in financial transactions and enact additional laws to make all financial transactions transparent as per the international standards. As per the existing provision, income source must be declared while depositing over Rs one million in a bank or a financial institution.
The government has also announced to bring wilful defaulters of bank loans and those who divert loans to areas other than those for which they are sanctioned by banks and financial institutions, within the scope of legal action.
The government has also expressed commitment to take stringent legal actions against those involved in revenue leakage and revenue fraud through the use of duplicate VAT bills.
In order to regulate and monitor economic crime control and money laundering, the government has announced to formulate necessary policy and legal and institutional arrangements in line with international standards by strengthening mechanism such as Money Laundering Investigation Department and Fiscal Information Unit.
Related story
ICC T20 World Cup: England set Nepal a challenging 185-run targ...
