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Economic crisis: Govt issues white paper

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KATHMANDU — The government on Tuesday issued a white paper on current status of economy and immediate priorities, concentrating on fuel supply, energy security, food security and ways to ease businesses and reconstruction.

However, the white paper presented by Finance Minister Bishnu Poudel is silent on the proposed commercial import of petroleum products from China.

Issuing a white paper on the current economic situation, the Ministry of Finance pushed on the need to realign the budgetary programs to streamline supplies to prevent possible humanitarian crisis and boost production in the country.

Through the white paper, MoF has reported that it will soon release the first part or 25 percent of the relief package amount worth Rs 200,000 declared by the government earlier for the earth quake victims.

The white paper has also said that the government will further arrange for subsidised loan of up to Rs 300,000 in collective guarantee for the families whose houses was fully destroyed by the earthquake.

The government has projected economic growth to float around 2 percent and inflationary pressures to increase due to supply side constraints.

The white paper says that country’s food security has been undermined as ‘the stock has come down to 155,000 tonnes against the need of 5.34 million tones’.

Without specifying India, the finance minister said that the current blockade have negatively impacted socio-economic conditions.

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Country marking today as Black Day

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KATHMANDU- The country is marking today (December 16) as Black Day to protest the disposition of the first democratically elected government by the late former king Mahendra Shah on December 15, 1960.

Mahendra took charge of the state with the help of the then Royal Nepali Army and formulated the Panchayat System by overthrowing the elected government led by B.P. Koirala and dissolving the parliament.

Various programmes are scheduled on the occasion.

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