Finance Minister Bishnu Prasad Paudel assures budget won’t hinder new government’s vision

July 15, 2024, 05:29:43 PM |

KATHMANDU: The newly-appointed Deputy Prime Minister and Finance Minister, Bishnu Prasad Paudel, asserted today that the budget formulated by the previous administration would not obstruct the implementation of the vision and mission of the newly-formed government.

After the oath-taking ceremony at the Office of the President, Minister Paudel took charge at the Ministry of Finance in Singha Durbar. He expressed confidence that the existing budget for the upcoming fiscal year would not impede the government’s planned course of action.

“The budget will not be an obstacle in implementing the government’s objectives and vision. If any obstacles are encountered, there are legal and constitutional provisions to sort them out. We will go for an amendment process accordingly,” Minister Paudel stated.

Minister Paudel emphasized that any issues encountered in budget implementation could be resolved through procedural revisions. He highlighted that the formation of a coalition government by the two largest parties in parliament signals political stability, which he believes will help address the country’s economic challenges.

“The government moves ahead pulling apart the existing despondency and creating hope. We will focus on production and employment. I expect all sectors will extend their support for the same in the changed context,” he added. He also expressed his hope that the share market would proceed in a balanced manner, considering it a reflection of the economy.

In his first act as Finance Minister, Paudel announced a study to identify areas of development finance.

This marks Paudel’s third term as Deputy Prime Minister and his fourth as Finance Minister. He was elected as a Member of the House of Representatives from Rupandehi electoral constituency number 2 in the general election held on November 20, 2022.

Paudel has had a long political career, having first been elected as an MP in 1994 and later serving as a member of the Constituent Assembly in 2008 and 2013. He chaired the Constitution Archives Study and Determination Committee in 2013.

His previous ministerial roles include serving as Minister for Youth, Sports and Culture in 1996, Minister for Water Resources in 2008, and Minister for Defence in 2010. Paudel also spent eleven years underground from 1978 to 1989 and was jailed for three years in 1980 for anti-government activities.

An influential leader of the CPN (UML), Paudel has been active in politics for four decades and currently serves as the Vice Chairman of the UML. Born on December 1, 1959, in Syangja, he is a permanent resident of Butwal Sub-Metropolitan City-8, Rupandehi district, and currently resides in Lalitpur.

Fiscal Nepal |

Monday July 15, 2024, 05:29:43 PM |