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Prime Minister Pushpa Kamal Dahal said that the government was committed to accelerate the country's economic transformation by boosting the morale of entrepreneurs and investors.

Addressing the 58th annual general assembly of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today, PM Dahal reiterated that the government had prioritized healthy and strong regulation of the financial system and to create an enabling environment for the private sector to work with high morale.

Urging all organizations and representatives of private sectors to proceed with high morale, the PM underscored a strong unity among the government and private sector to address the concerns and demand of the entrepreneurs and investors. 

Stating that the private sector had been playing a leading role in bolstering production, job creation and increasing investment, the Head of the State said that the three-tier government had been coordinating with the private sector in formulation of policies, programs and budget.

He observed that Nepal was focused at achieving Sustainable Development Goals (SDGs) by 2030, upgradation from the least developed country to developing country's status by 2026 and achieving balanced development and prosperity. He called for expansion of investment from both the government and private sector to achieve these set goals.

Furthermore, PM Dahal informed that the government was moving ahead with concrete homework and preparations to make the upcoming Investment Summit effective and result-oriented.

"There are plenty of challenges and limitations in our policies, laws, thinking, structure and working style to create a favorable climate for investment and attract investment," he admitted.

According to him, the government was prepared to consider an amendment in the laws by introducing ordinance if need be and to put in place simplified policies and procedures to attract investment."

Noting that the internal and external indicators of the economy are on a positive trend, PM Dahal said it is a matter of happiness that the primary economic indicators are improving thanks to the harmony between the financial and monetary policies and the strong private sector collaboration.

He added that still the economy remains to achieve the expected level of progress in tandem with the national aspirations and needs.

"The government is committed to forge ahead with additional commitment to expedite the process for improving the economy," he said.

Stating that the government has, from this year revised the policy, modality and the schedule related to the budget by bringing a bill with the realization that the country's prosperity and transformation was not possible with the traditional form of policy, program and budget, Prime Minister Dahal hoped that this time intensive discussions and interaction will be held among the people's representatives, industrialists and businesspersons, intellectuals and the general public on the government's policies and programs.

"The government shall formulate scientific policy-programs and budget even in the midst of unlimited aspirations and limited means and resources. I consider this as an important base point of a new break from the past in the economic sector," he reiterated.

The PM said that the upcoming policy-programs and budget should stress on production growth, employment generation and on promotion of agriculture-based industries. "We used to see from the instances of other countries that the achievements of other sectors of the economy would not be sustainable if domestic production and employment do not increase. Now we are ourselves experiencing the same. This problem would be addressed this time," he further added.

Prime Minister Dahal said the government is doing homework to orient the unspent project budget that is accumulated at one place towards strengthening the economy and transferring it to the projects capable of spending it. RSS

The Election Commission (EC) has enforced the election code of conduct for the April 27 by-elections announced for the Ilam constituency-2 and the Bajhang Province Assembly 1(A).

The House of Representatives (HoR) by-election is taking place in Ilam and the Provincial Assembly election in Bajhang.

The election code of conduct aims to ensure that the elections will be held in a free, fair, safe, and credible atmosphere, it is said.

 According to EC Spokesperson Shaligram Sharma Poudel, the election code of conduct is applied to political parties, election candidates, sister, and other affiliated organizations, and all the stakeholders and its violation is punishable by law. It has also set limits for the election expenditures for political parties and the candidates.

The pre-election campaign which includes the publicity campaign, rallies, mass meetings, corner meetings, other gatherings, and the use of the means of transport and media shall be in line with the provisions mandated by the code of conduct.

Nepali Congress lawmakers Dhanraj Gurung, Badri Pandey and Jeevan Pariyar have registered a proposal of public importance in the parliament regarding the investigation of wealth and assets of public office holders and their families. 

The proposal, registered with the Task Management Branch of the House of Representatives on April 9, falls within the ambit of the Ministry of Home Affairs. Interestingly, the main opposition party has been obstructing the House session demanding a parliamentary probe into Home Minister Rabi Lamichhane’s alleged involvement in misappropriation of funds deposited in a Pokhara-based financial cooperative.  

If the proposal is discussed in the parliament, Home Minister Lamichhane will have to furnish replies on the matter.

“There’s a prevailing practice of forming a high-level commission to investigate the wealth and assets of public office holders. A judicial investigation panel was formed on 8 March 2002 to investigate the wealth and assets of all incumbent and retired public office holders accumulated till 1990. The panel’s report needs to be made public,” the proposal undersigned by Gurung, Pandey and Pariyar states.

The Congress lawmakers argue that while the Corruption Prevention Act, 2003 stipulates a mandatory condition of wealth and asset disclosure applicable to all public position holders and their families, it remains unimplemented. The lawmakers have sought effective implementation of the anti-graft legislations to curb corruption and irregularities, maintain public trust in governance, make the activities of public office bearers transparent, accountable and responsible.

One of their chief demands is conducting a parliamentary discussion on publicizing the report, submitted by the judicial investigation panel formed in 2002, detailing the wealth and assets of public office holders and their families. They have also called for a continued scrutiny of their assets beyond the reporting period.

Key demands

• Unveiling and and implementation of the report on the fortunes of public office holders and their families submitted by the judicial panel formed 22 years ago
• Investigation into the properties of public position holders, including incumbent and retired prime ministers, ministers, members of parliament, chief ministers, provincial ministers, elected local government officers and their close family members
• Formation of a separate commission to investigate the wealth and assets under the ownership of past and present public office holders, as well as their family members

Prime Minister Pushpa Kamal Dahal has urged diplomatic missions in Nepal and the development partners to make the Nepal Investment Summit 2024 a success. The government is organizing the Summit on the 28th and 29th of this month.

Addressing the meeting of diplomatic missions and development partners in Nepal organized at Singha Durbar today, Prime Minister said the role of development partners and diplomatic missions in Nepal is important to establish Nepal as the destination of investment.

"We expect active participation in investment summit as well as support of development partners", he shared.

Stating that projects of province and local governments have given equal priority along with ministries of federal government, the Prime Minister clarified that the government is committed to ensure the environment to revise laws in order to create investment-friendly environment, procedural reforms and not to allow any obstruction for investors during project period. 

"The summit will provide a platform to connect Nepali production and service to the global market as well as make stakeholders including investors, development partners and financial institutions easy to unite, to seek opportunity and to promote long-term partnership," he said.

The government of Nepal was ready to provide any type of support needed to incumbent and possible investors, he underscored.