KATHMANDU: Investments worth approximately Rs 34 billion have been committed for 200 enterprises by the government.
Prime Minister KP Sharma Oli announced this while addressing the nation on Wednesday, emphasizing its potential to enhance economic growth and development.
During his address to the nation, Oli expressed optimism about the future, stating that these investments signify a growing confidence among investors in the country’s economic prospects. He said that the formation of key commissions, such as the Economic Recommendation Commission, is aimed at addressing the needs of the private sector and further strengthening investor confidence.
The Prime Minister’s announcement comes at a time when the government is actively seeking to revitalize the economy through various initiatives. The commitment of substantial investments across multiple industries is expected to create jobs and stimulate economic activity in the coming months.
“The process of obtaining Nepal’s sovereign credit rating from an international independent expert organization is nearing completion,” he stated. He also mentioned that the stock market, which has experienced a prolonged decline, is showing signs of recovery despite challenges posed by natural calamities.
Oli also said that an agreement has been reached between the Nepal Oil Corporation and the Indian Oil Corporation to expand the pipeline from Siliguri to Charaali in Jhapa, and from Amlekhganj to Lothar in Chitwan. This expansion aims to enhance the supply and storage capacity of petroleum products in Nepal.
Furthermore, Oli announced the operationalization of the Nepal Accreditation Center, which is tasked with ensuring the quality of goods, services, and processes across various sectors. This institution will be responsible for measuring the efficiency, transparency, and authenticity of organizations involved in quality determination nationwide.
As of mid-October in the current fiscal year, the federal government’s expenditure has increased by several per cent compared to the same period last year, reaching approximately Rs 329 billion. Additionally, total revenue mobilization has risen by 13.3 per cent, amounting to about Rs 248 billion.
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