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Finance Minister Khatiwada presents current picture of nation’s economy

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KATHMANDU — Finance Minister Dr Yubaraj Khatiwada has pointed out economic challenges facing the country due to various causes.

Blaming the lack of proper capital mobilisation in part for economic challenges, he stated some difficulties in budget expenditure.

“Big projects fail to be completed in stipulated time, and for estimated costs. Distribution-oriented programmes have surpassed productive ones,” he said.

He also stressed the need for all to help achieve the goal set by the government to upgrade the country to the list of developing one by 2022.

He pointed out failure in making industry sector competitive, while identifying additional challenges alongside shrinkage in investment in employment and production sectors.

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“Industries established by the government are in loss. Problem of unemployment is growing in Nepal’s labour market. Fiscal mobilization is yet to reach rural areas,” the Finance Minister added.

Stating that domestic capital market was just limited to securities, he said the entire nation’s economy had become import-oriented. Allocation of budget without proper plan and the trend of spending capital budget at the eleventh hour of the fiscal remained as challenges in the economic sector.

“Huge budget has been invested to operate a pension fund.”

As stated by the Finance Minister, the government has not got price (results) for its investment in public enterprises and it is yet to pay them for the management of employees’ salary and for operation of the retirement fund.

He was of the view of proper development and utilization of information technology to attain economic progress.

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Economy

Sajha to bring 20 more buses to the Kathmandu Valley

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LALITPUR— The Sajha Yatayat is adding 20 more buses in the Kathmandu Valley.

The Kathmandu Metropolis is investing Rs 50 million while the Rs 10 million shall be contributed by the Lalitpur Metropolitan City to launch new buses manufactured by the Indian Company Ashok Leyland which will have features like of Sajha vehicles presently in operation.

The company targets to bring new passenger buses into the valley in the next two months and they will be seen on the Valley roads after getting registered at the concerned department.

The Sajha that is operated on a cooperative model was established on 16th March, 1962 (Chaita 3, 2018 BS) as per the then Cooperative Act-2016 BS to provide accessible and reliable transport services to the public at reasonable prices. But, all services had been closed in 2064 BS due to various reasons.

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The Sajha bus service was launched again on 13th April, 2013 (Chaita 31, 2069 BS) and at an initial phase, two buses were seen on the Kathmandu Valley in the morning of the following day( Nepal New Year 2070 BS) carrying the name of Sajha.

The government and local level owns over 90 percent share in Sajha

Currently, 47 Sajha buses are operated in the Valley.

Its long route services include the Kathmandu-Baglung and Kathmandu-Kushma, Parbat routes. Besides, it has special bus services meant for physically challenged people. It may be noted that Prime Minister KP Sharma Oli last Tuesday inaugurated electronic-buses introduced under the management of Sajha.

 

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