Do not panic, Pun tells pvt sector

KATHMANDU, JUL 17 -

Finance Minister Barsa Man Pun has assured the private sector that the government would do its bit to create conductive business environment despite its failure to bring a full budget.

“It is not that all work will stop in the absence of a full budget,” he said at a press meet here on Monday. “The private sector should not worry as the existing policies get continuation with the partial budget.”

Finance Minster Pun on Sunday presented a special budget, authorising the government to spend Rs 161.02 billion — one third of last year’s estimated expenditure. The amount also includes the consolidated fund spent for constitutional bodies like president, judiciary and payment of foreign and domestic loans for the entire year. The campaign for a full budget initiated by the private sector turned fruitless after the government decided to bring a partial special budget amid strong protest from opposition parties.

“The government is not in favour of igniting confrontation among political parties,” said Pun. “That’s why it brought the special budget despite acknowledging the private sector concerns.”

He said that the government’s decision to bring a partial budget averted the possible power struggle between the president and the prime minister amid strong lobbying by opposition parties with the president to reject a full budget.

Pun, however, assured that the government would not wait for the one-third budget to finish. “The government’s efforts will focus on forging consensus and bringing a full budget at the earliest,” he said.

Source: The Kathmandu Post