KATHMANDU, Feb 13: The members of parliament (MPs) on Sunday came down heavily on the government's inability to maintain financial discipline and to enforce effective policies to correct a number of economic measures.
Deputy Prime Minister and Finance Minister Bishnu Paudel was interrogated by the MPs after the government cut down largely the budget size through the mid-term review of the budget. Finance Minister Paudel in this regard was put forward with tough questions by the lawmakers.
MP Amresh Kumar Singh asked what kind of message has the finance minister given by being proud of providing work permits to 64 percent of the laborers. His question was, “Will not the country suffer with only elderly people left after sending all the youths abroad?”
Understanding Stock Market
MP Prem Suwal strongly opposed the government's plan to cut expenses and suggested the government to increase revenue instead of cutting expenses. He asked what is the government's plan to provide employment to the youth instead of sending them abroad? He said that the government should take control of all the banks.
Member of Parliament Metmani Choudhary raised the question of how the economy will be oriented towards socialism when a few limited households took a loan of Rs 28 billion from commercial banks while 0.3 million families received a loan of only Rs 18 billion. Another MP Dilendra Prasad Badu objected to the silence of the report on whether to make the economy import-oriented or production-oriented.
Stock investor MP Hari Dhakal said that the market capitalization of the capital market has decreased from Rs 43 billion to Rs 14 billion and the stock market has dropped by 60 points on Sunday alone. He asked what is the government's plan to strengthen the capital market?
RPP MP Gyanendra Shahi suggested to the finance minister that the government should collect not only Rs 10 billion, but Rs 30 billion in revenue. Another MP, Ram Hari Khatiwada, questioned the policy of increasing the development expenditure which is only 16 percent, and also inquired about the plan to stop inflation.
Answering the questions of the parliamentarians, Finance Minister Paudel insisted that the government has not worked to promote foreign employment; instead, he only submitted facts to the parliament. He also announced that the recent aid amount of Rs 7 billion, pledged by the chief administrator of USAID, Samantha Power to Nepal, was taken by the government based on need and preference and was not for any unproductive sector or unnecessary campaigns.
