Lawmakers Unanimously Approve Government Borrowing Bill " Bill to Raise Public Debt- 2083"

Nepal's House of Representatives has unanimously approved a new law that allows the government to borrow funds from both domestic and international sources to help finance the country's national budget.

Finance Minister Dr. Swarnim Wagle presented the proposal for the Bill to Raise Public Debt, 2083, which received full backing from the lawmakers present. Responding to questions during the discussion, Dr. Wagle promised that the borrowed money would be strictly directed toward projects that create long-term value for the country.

The Finance Minister specifically noted that loans taken from foreign countries and international institutions are meant for building essential public systems like roads, electricity, and water networks. He pointed out that while these projects are meant to make everyday life and business smoother, the outcome is not always guaranteed. As an example, he pointed to the country’s two newly built international airports, noting that they have shown very different results and require closer supervision.

Before the final vote, Speaker Dol Prasad Aryal called on the lawmakers to make their decision. The parliament rejected proposals for changes submitted by lawmakers Parashuram Tamang and Rekha Kumari Yadav, while lawmaker Hari Prasad Bhusal chose to withdraw his own suggestion before the vote took place. Following the approval, the session took a brief 15-minute break.