Fiscal bills will be endorsed soon: FM Mahara

Kathmandu, Aug 30: Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara Tuesday said that the bills related to the Budget of the Fiscal Year 2016/17 would be passed at the earliest.

In an interaction with the Society of Economic Journalists of Nepal (SEJON) at the Ministry of Finance, DPM Mahara clarified the three bills related to the annual budget were failed because of the political void created by the 'no confidence' motion tabled against the erstwhile KP Sharma Oli led government.

The coalition partner of the Oli government, the CPN (Maoist Centre) itself had filed the 'no confidence' motion against the government.

"We are not against the bills, actually we do have ownership of them. They were failed because of political reasons," he stated.

Three bills related to the annual budget of the current FY – Financial  Bill, National Debt Recovery Bill and Debt and Guarantee Bill – were rejected by the parliament with majority votes while the House had endorsed the Appropriation Bill.

"Not only the bills related to the budget but other bills crucial for the economic progress and private sector development also will be passed soon. The Bank and Financial Institutions Act (BAFIA) bill has been stuck at the Parliament Committee. I will work to get it passed soon," Mahara said.

He made it clear that the government had given higher priority to the economic progress of the country.

"The government has set priorities from constitution implementation to reconstruction of the structures damaged by the devastating earthquake in April and May last year," he remarked.

According to DPM Mahara, the priorities of the government were constitution implementation, holding elections of the local bodies, provinces and federal assembly, expediting the reconstruction works, concluding the remaining tasks of the peace process and leading the country on the path of economic progress.

He expressed serious concern over the sluggish progress of the reconstruction works and promised that there wouldn't be a shortage of budget for them.

Mahara maintained that he would initiate a few effective programmes that would have significant impact on development and the economy, and put all his efforts to conclude them.

After assuming the post of the DPM and Finance Minister, Mahara has made three decisions to facilitate youth entrepreneurs, implement the budget and increase revenue collection.