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Former finance ministers have said that a new stage of economic reform is necessary to make the economy sustainable. Former Finance Minister Barshman Pun said that the government and the private sector should work together in the reform work. Speaking at the meeting of the Finance Committee of the Federal Parliament on Wednesday, former Finance Minister Pun said that a new stage of economic reform is necessary.
He emphasized that the government should increase the confidence of the private sector by increasing the expenditure in the areas that will have immediate results and making the economy viable.
'It is not so easy for the current finance minister to work, because the budget made by the former finance minister Prakash Sharan Mahat was announced when I was the finance minister, that budget is being implemented by the current finance minister,' he added, 'although the budget has been based on reality, it is not very ambitious.
Former Finance Minister Prakasharan Mahat said that there are signs of improvement in some of the economy's indicators. "Investors' confidence has decreased, banks have sufficient liquidity, interest rates are low, but there is no demand for loans," he said, "due to this, investors do not have confidence that their investments are safe." He also said that investors are likely to come. Similarly, since there are increasing irregularities in the customs, immediate reforms should be started. fall MPs have requested. They emphasized that the customs points should be improved immediately as the revenue has decreased due to lack of improvement.
Member of Parliament Padam Giri questioned why the X-ray machine at the customs point was not repaired even though it was broken. "Even if we can't make other improvements, let's at least replace the broken machine," he said, "If we don't do even a small improvement, how will the revenue increase?"
Member of Parliament Upendra Yadav said that due to the increase in leakages at the customs points, the revenue was not collected as per the target. "Common people will suffer in the name of customs tightening, but it seems that big businessmen are always at ease," he said. He said that because of the Nepali consumers, the Indian markets along the border are busy, but the Nepali markets in that region are deserted.
However, Finance Secretary Ram Prasad Ghimire claimed that revenue collection is improving. "Compared to last year, the revenue collection has increased in the first quarter, and efforts are being made to control leakages," he said. Even though Secretary Ghimire is claiming improvement in revenue, the collection is very less compared to the annual and monthly targets of the government.
