KATHMANDU: Finance Minister Janardan Sharma has said COVID-19 has impacted the entire economy, good governance, and humanity as a whole.

During a meeting of the Sustainable Development and Good Governance Committee of the National Assembly on Tuesday, the Finance Minister said that massive reform in development targets and plans was required to cope with the current situation resulting from the COVID-19 pandemic.

“Development strategy, goal setting, and implementation in itself are contradictory. The trend of a shift in plan and policy along with the change in government and minister is a great challenge,” the Finance Minister said.

Sharma also said that we lack a framework of the socialism-oriented economy despite its provision in the Constitution while adding that such issues were not incorporated in our plan and programs.

Saying that making a self-reliant economy was the main goal of the present, he argued that there was no other option than to move ahead by making fundamental policy on inclusive development.

During the meeting, Auditor General Tanka Mani Sharma, Chief Secretary Shankar Das Bairagi, Financial Comptroller General Suman Raj Aryal, and others shared their opinions on government spending, auditing system and details of the government properties.

On the occasion, Committee Chairperson Dinanath Sharma stressed the need for massive reform in government spending adding that unscrupulous spending has increased arrears in the state coffer.