Scattered aid has prevented Nepal from realizing the aid effectiveness, said Pun. “We would, therefore, like to draw World Bank Group´s attention to concentrate on large and mega projects like large hydro-power projects, roads and river water management projects, which will have multiple developmental impact and help create employment,” he added. [break]
Pun who addressed the plenary of the annual meetings of the World Bank Group and the International Monetary Fund in Washington DC on Friday also tried to win development partners´ confidence by assuring that the new Maoist-led government was committed to reforms and would lead the country to peace and stability.
“The new government is committed to complete the new constitution by 30 November 2011 and establish lasting peace,” he said.
He even referred to Prime Minister Dr Babu Ram Bhattarai´s announcement to finalize the integration and rehabilitation of its army combatants within 45 days and handing over of keys of the containers in which their weapons are stored in various cantonments to the Special Committee by UCPN Maoist to prove his point.
However, Pun also quickly added that bringing the peace process to a logical end, drafting the new constitution, and institutionalizing political stability in the country required political consensus among the major political parties. “And it is encouraging that there are indications of a consensus very soon,” he noted.
Pun also cited the problems faced by Nepal such as low economic growth. While attributing the dismal economic growth to factors like frequent changes of government, energy crisis, low efficiency in the use of resources and absence of conducive industrial environment, he said the present government is committed to address all these problems.
“In fact, various programs have already been initiated to this effect,” he stated, referring to immediate relief package.
Despite pressure on the government to step up investment in social sectors, particularly in capacity building of marginalized communities, Pun said Nepal has seriously followed the fiscal discipline and maintained macro-economic stability.
Like many other finance ministers from both developed and developing countries, Pun also expressed concerns over soaring food prices, global warming and natural calamities.
While speaking on the global financial crisis, Pun urged WB and IMF to explore ways of correcting the defects of existing weaknesses in regulations and supervisory failure.
Related story
Daraz announces sale of the year up to 80% off, mega vouchers u...
