Finance Minister pledges payment to construction entrepreneurs

KATHMANDU: Deputy Prime Minister and Minister for Finance Bishnu Paudel assured that the government would pay the outstanding amount claimed by the construction entrepreneurs in accordance with the law.

At a programme organized by the Female Economic Journalists’ Association (FEJA) here Sunday, DPM Paudel said that incumbent government was experiencing sheer inconvenience due to payment obligations left unsettled by the previous government.

He, however, optimistically added that the incumbent government was now in a position to settle all due payments as per the law. He claimed that no payment demanded as per law has been withheld so far.

Shedding light on the government’s ongoing efforts to increase capital expenditure, the DPM emphasized the need for reforms in the Public Procurement Act, Forest Act and Environment Act. To drive the reform, he informed that the government was paying attention to make regulation more effective.

On a different note, the DPM argued that challenges surfaced in the economy after the banks and financial institutions significantly invested in real estate and the transaction in this sector did not gain a momentum.

He, thus, called for collective efforts from both government and private sector to revitalize national economy and address the problems in the real estate.

Regarding the ordinances brought by the government, he expressed confidence that those ordinances would play a strong role in policy reforms and boost morale of private sectors.

Introduction of ordinances was the result of government’s policy reform initiatives, he stressed.