Finance Minister Wagle: Stalled Economic Reforms to Be Pushed Forward

Kathmandu. Finance Minister Swarnim Wagle has stated that the government has decided to move forward with economic and policy reforms that had been stalled for a long time due to a lack of political willpower and effective implementation of legal provisions.

Speaking at the inauguration ceremony of Fin Electro-Tech, he informed that after discussions with the Prime Minister and party leadership, preparations are underway to reform and implement various acts, regulations, and procedures included in the party's manifesto.

He said, "We have decided to push forward with reforms that could not take place for a long time due to a lack of political courage and proper utilization of bills. After discussing with the Prime Minister and the Party President, we are moving forward to reform dozens of acts, regulations, and procedures mentioned in the party's commitment letter."

He mentioned that various ambitious programs have been announced to restore the confidence of the private sector and spread a message of positive change in the country. Wagle claimed that this is the first time since the year 2048 B.S that economic reform programs of such a wide scope have been made public at once.

He said, "We have announced ambitious programs to restore the confidence of the private sector and to send a message that something positive is finally happening in the country. I think this is probably the first time since 2048 B.S that reforms in the economy have been announced with such great ambition at one go."

Finance Minister Wagle mentioned that infrastructure development has been prioritized, aiming to complete projects in roads and other infrastructure sectors that have been left stranded for a long time. According to him, projects in which the investment of the Nepali people is trapped will be completed within a specific timeframe.

He stated that the government is moving forward with a plan to complete various incomplete projects under the Postal Highway, Mid-Hill Highway, and urban development within one to three years.

He said, "We have moved forward with the resolve to finalize programs in road infrastructure that have been kept on hold for a long time and could not be implemented, as well as projects where the money of the Nepali people is trapped. There are incomplete projects in many places, from the Postal Highway to the Mid-Hill Highway to dense urban development, which need to be concluded within one, two, or three years. 

The money of the Nepali people is trapped, and it must be resolved. Believing that we should not engage in a race for political credit, the Minister for Physical Infrastructure and we sat together this time and are generously working on the process to finalize this."

Pointing out the need to work above the competition for political credit, he informed that the government is engaged in the process of completing stalled projects in coordination with the Ministry of Physical Infrastructure and Transport.