KATHMANDU: House of Representatives (HoR) member Dr. Swarnim Wagle has advised the government to implement its announcement to initiate a new phase of economic reforms.

In deliberations on the Appropriation Bill-2081 BS in a meeting of the lower house today, the lawmaker and economist suggested the government to focus on credibility and capacity enhancement, regulation of capital expenditure, and escalation of the size of the economy.

Of late, the size of the economy has reduced to less than 30 per cent as expected and this should be considered as a phase of safe landing.

The deliberations were dedicated to the budget allocated under various headings of the Ministry of Federal Affairs and General Administration, the Ministry of Energy and Water Resources, and the Finance Ministry.

The lawmaker underlined the need to switch to the production and use of modern energy sources from conventional ones.

Drawing the attention of the government to increasing energy insecurity due to a lack of balance between the power generation during monsoon and other seasons, he wanted the government to address this issue.

As he said, the goals and direction of the budget are welcoming and the participation of the private sector is necessary to bridge the capital gap remaining as a challenge for the implementation of the budget.