Published On: January 31, 2023 04:49 PM NPT By: Republica | @RepublicaNepal
KAVREPALANCHOWK, Jan 31: Deputy Prime Minister and Finance Minister Bishnu Poudel has admitted that the government is off the mark on revenue mobilization in the current fiscal year.
Inaugurating a building of Balaram-Tara Pradhan Energy Lab at Kathmandu University on Tuesday, Finance Minister Poudel said that revenue mobilization this year is ineffective as compared to last year.
"The capital expenditure is only 14 to 15 percent. It is quite worrying," he said, adding that homework is being done to improve the situation and prepare next year’s budget accordingly. “The entire economy is facing challenges,” he added.
Interest rate, inflation, trade balance are some of the key economic challenges that need to be addressed. Finance Minister Poudel sought cooperation from all stakeholders to restore the economy.
Minister Poudel also expressed concerns over the mass exodus of youths for higher education and foreign jobs. "A large number of youths are leaving the country for quality education, which has emptied the state coffers," he observed.
Minister Poudel pointed out the need to provide quality education for the overall development of the country. He also urged everyone to adhere to the ideals of the late hydro engineer Balram Pradhan.
The programme was attended by Vice Chancellor of Kathmandu University, Bhola Thapa, Registrar Dr Achyut Wagle and others.
The two-story green hydrogen lab was constructed at a cost of Rs 26 million. Among the total cost, Pradhan's family had provided Rs 4.5 million in assistance.
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