KATHMANDU, June 29: Nepal Peasants and Workers Party (NPWP) lawmaker Prem Suwal lashed out at the government for its decision to borrow foreign loan arguing that Nepal has been already deep into financial crisis.
Delivering his views over the Appropriation Bill, 2075 at a meeting of the Lower House of Representatives in New Baneshwar on Friday, Lawmaker Suwal said that Nepal cannot afford further foreign loans as our country is already deep into foreign debt, with Rs 25,000 per Nepali citizen foreign loan that have been borrowed by the previous governments.
NRB increases limit for banks to borrow in foreign currency
Coming heavily down on the government, Suwal said that those ministers involved in taking the loan and its implementation process should be investigated thoroughly and brought to book if found guilty.
He went on to say that the government should render efforts toward curbing ongoing misappropriation of the state coffer rather than borrowing foreign loans.
Responding to the views presented by Lawmaker Suwal, Finance Minister Yuba Raj Khatiwada said that the country cannot be run without depending on foreign loans.
“Foreign loan and internal resources should be utilized for the socio-economic and infrastructure development of the country,” said Minister Khatiwada.
He shared that the government is planning to take Rs 172 billion in foreign loan which is less than five percent of the gross domestic product (GDP) of the country.
