Saturday, 7th March 2015

Budget will come by mid-June: FM Mahat

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Finance Minister Dr. Ram Sharan Mahat has said the need of the day is to write constitution and build physical infrastructure and create investment-friendly environment.

Addressing the Finance Committee of the parliament today, he said the government was making efforts for capital formation, environment for investment and infrastructure development.

The government is mulling to bring the budget by Mid June by holding pre-budget discussion and will go to implementation from mid July after completing discussion by then.

He said the budget was not important, but whether or not the contracts are signed, quality maintained, as implementation is the main problem.

There are anomalies in contract, of bidding in low price, and taking 20 percent advance payment and then disappearing without works, he said.

Minister Dr. Mahat complained of having to spend in salaries and allowances rather than in production and capital formation.

However, the government has prioritized water resources, rural electrification, power generation, transmission line, irrigation, tourism, he said.

Former Finance Minister and elderly member of the committee Bharat Mohan Adhikari said the finance committee has a key role to play for the country's prosperity and everyone should know the role of ministry and the National Planning Commission.

Earlier, committee members called for extensive pre-budget discussion, stopping non-transparent foreign assistance and changing of priority by governments.

They also drew the attention of the minister for Rs.50 million budget for each constituency, and prioritizing Karnali in budget, among others.