Protective policy to safeguard, promote and expand domestic industries: Finance Minister

Finance Minister Dr Yubaraj Khatiwada has said that the difference in the customs duty of some readymade goods and raw materials would not trouble the consumers but help maintain the competition. Budget has been allocated in some areas considering the need to look at competition as well as consumers' right.

Speaking at a press meet held here Thursday, a day after tabling the budget for fiscal year 2019/20 at the parliament, Finance Minister Dr Khatiwada said the new policy has been adopted to promote and expand near-self-reliant industries and production.

On the occasion, defending the allocation of funds for the local partnership and infrastructure development programme, Dr Khatiwada said the people's representatives could not be deprived of budget as they contest elections linking with development. It may be noted that the government has allocated Rs. 60 million for the programme that will be implemented under the leadership of the Member of Parliament concerned. He however stressed on monitoring in order to ensure that the budget that goes to the constituencies are utilized.

He also expressed the confidence that the allocation of budget with a priority on physical infrastructure, energy, agriculture and tourism would help realize the goal of prosperity of the Nepali people.