KATHMANDU: Rastriya Prajatantra Party (RPP) parliamentary party leader Gyanendra Shahi has questioned the economic priorities and judgment of Finance Minister Swarnim Wagle, criticizing policies that he says could encourage capital outflow from Nepal.
Speaking during Thursday’s budget debate in the House of Representatives, Shahi argued that the government should focus on creating a favorable investment environment within the country rather than facilitating investment abroad.
“Policies that weaken domestic industries instead of protecting them cannot be in the national interest,” Shahi said. “The Finance Minister has been talking about making it easier to invest abroad. The question is whether Nepal should create an environment for capital to leave the country or encourage Nepalis living abroad to invest at home.”
He further questioned the minister’s understanding of Nepal’s economic priorities.
“If the Finance Minister cannot distinguish between these two priorities, how can we describe him as an expert?” Shahi said.
The RPP leader also criticized budget provisions related to the pharmaceutical sector, claiming they favor imported medicines over products manufactured in Nepal.
According to Shahi, the policy could have a direct negative impact on domestic pharmaceutical companies, many of which are already facing financial difficulties.
He warned that nearly 50 pharmaceutical industries in Nepal are at risk of shutting down if adequate protection and support measures are not introduced.
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