Minister Karki insists on ratifying MCC compact from parliament « Khabarhub
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Minister Karki insists on ratifying MCC compact from parliament


20 February 2022  

Time taken to read : 4 Minute


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KATHMANDU: Minister for Communications and Information Technology Gyanendra Bahadur Karki has insisted on the need of endorsing MCC compact reached between the Nepal government and Millennium Challenge Corporation (MCC) by the people’s representatives in accordance with the constitutional provisions.

Tabling the document in the House of Representatives (HoR) Sunday, he urged political parties to help ratify it to secure benefits of development projects. The government spokesperson apprised the House that the aid agreement was about providing grant assistance of US dollar 500 million for the development of a 400-KV transmission line and maintenance of roadways in the country.

September 14, 2017 marked the signing of the agreement and projects to be implemented under the aid shall be completed within five years of the implementation of the deal.

As Minister Karki informed, the Ministry of Law, Justice and Federal Affairs on  January 11, 2020, had advised to ratify the proposal from the lower house with a general majority and it was presented before the House following the same advice. The document was finally introduced in the House after two and half years of its registration in the parliament secretariat.

Minister Karki tabled it on behalf of Finance Minister Janardan Sharma.

Prior to this, a meeting of ruling partners held in the Prime Minister’s official residence agreed to move the agreement to the parliament.

It may be noted that Foreign Assistance Coordination Division Chief was appointed as the contact officer to coordinate with the MCC during the term of Baburam Bhattarai as the Prime Minister of Nepal and Barshaman Pun as the Finance Minister. At that time it was informed that Nepal was selected in the MCC threshold program.

A team of Nepali economists was formed for ‘content analysis’ in the fiscal year 2069/70 BS when Khila Raj Regmi was the chair of Council of Ministers and Shankar Prasad Koirala was the Finance Minister. Similarly, in 2070-72 BS, Nepal was informed that it was selected for the MCC compact.

At that time, Sushil Koirala was the Prime Minister and Dr Ram Sharan Mahat was the Finance Minister. It followed the appointment of former secretary Krishna Gyawali as the national coordinator for the preparation of compact program and steering committee under the convenorship of the then Finance Minister.

Later, it was agreed to accept the technical assistance to assess feasible projects in 2072-73 BS. The decision was also made to accept the technical assistance to prepare the draft of the compact and carry out feasibility study of projects. It was followed by the decision to entertain monetary assistance of Rs 1.13 billion (10.75 million US dollar) to develop the compact programs.

At the time, KP Sharma Oli was the Prime Minister and Bishnu Poudel was the Finance Minister.

Publish Date : 20 February 2022 20:14 PM

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