Finance Ministry initiates preparations for resource management
Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel emphasized that the floods and landslides in the second week of Ashoj caused significant loss of life and property.
KATHMANDU: The Ministry of Finance has initiated an assessment on the economic impact of recent floods and landslides, as well as resource management strategies to address them.
In a meeting of the High Management Group, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel emphasized that the floods and landslides in the second week of Ashoj caused significant loss of life and property.
He directed the team to conduct a detailed study on the resources needed for rescue, relief, and reconstruction efforts.
Minister Paudel noted that while the economy was showing signs of improvement, the damage to private residences, roads, hydropower projects, educational institutions, agriculture, and businesses due to the floods and landslides could negatively affect the economy.
However, he stressed the importance of advancing relief and reconstruction efforts in an organized manner to create a foundation for economic growth.
Before the floods and landslides, the Ministry of Finance, International Monetary Fund (IMF), World Bank, and Asian Development Bank had all reported that Nepal’s economy was on a path of recovery.
