Govt to increase capital expenditure to reinvigorate economy: FinMin Mahat

Published On: August 4, 2023 08:16 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Aug 4: Finance Minister Dr Prakash Sharan Mahat has said the government has been carrying out activities increasing capital expenditure to make the economy further dynamic.

At a press meet organized by Nepal Press Union, Parsa, in Birgunj today, Minister Mahat mentioned that the economic growth rate was low due to the poor capital expenditure in the past.

Stating that the problems seen in the economy are being resolved gradually, he claimed that there has been improvement in foreign exchange reserves in recent periods. 

The Finance Minister further said the government was effortful to resolve the problems seen in flow of loans due to high interest rates. Saying misuse, mistake, negligence of employees of the bodies collecting revenue would not be acceptable, he added that the Ministry has already directed all to pay attention in maintaining transparency and revenue growth. 

He also said that the government has been carrying out feasibility study regarding bringing the closed industries including Birgunj Sugar Mill into operation again, adding the Finance Ministry has already provide Rs 10 million budget for the time being to National Innovation Centre in order to bring Birgunj-based Agricultural Tools Factory into operation again by carrying out repair and maintenance of agricultural tools.



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