KATHMANDU: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has stated that there will be no immediate signing of the Belt and Road Initiative (BRI) proposed by China.

Responding to questions from members of parliament during the ongoing ‘Direct Question and Answer Program with the Prime Minister’ in the House of Representatives, Dahal mentioned that the implementation plan for the BRI, initially set to be discussed between the Planning Commission and its Chinese counterpart, is now more likely to involve the Ministry of Foreign Affairs and its secretaries.

However, a final decision has yet to be made.

“There is an increased possibility that it will now involve the Ministry of Foreign Affairs and its secretaries, but nothing has been finalized,” said Prime Minister Dahal, adding,  “I have not stated that the agreement will be signed immediately.”

Dahal emphasized that Nepal aims to secure grants rather than loans through the BRI.

“Our focus will be on obtaining grants. Whether it is from the ADB or the World Bank, even if we take loans, we will not accept interest rates above 1 or 1.5 percent. However, our main emphasis will be on obtaining grants,” he said.

Regarding the expenses of the President and Vice President’s offices, the Prime Minister mentioned that while a consensus on managing these costs could be reached, the current situation does not allow for immediate changes.

“Honorable members have raised concerns about the budget being unbalanced among ministries. I believe the relevant ministers have already provided answers on this issue. Efforts are ongoing to make it balanced,” Dahal stated.