Nepal’s economy was doing well when we were in govt: Ex-FinMins of UML (With full text)

KATHMANDU, April 10: Former Finance Ministers of CPN-UML have maintained that all indicators of Nepal’s economy were in good shape when the party was ruling the country.

The party has also accused the ruling alliance of leading the country’s economy toward crisis due to its wrong policies and working style.

Organizing a press conference in the capital, three former Finance Ministers – Vishnu Poudel, Surendra Pandey and Dr Yubaraj Kathiwada – maintained that the ruling alliance has led the country’s economy to crisis.

“The inflation rate was below four percent, remittance was higher than 10 percent and foreign currency reserves stood at Rs 14 trillion while UML was in power,” reads the press statement issued by former Finance Ministers.

The party has also maintained that the crisis in the economy began soon after the ruling alliance ousted the KP Oli-led government and formed a ruling coalition. “The ruling alliance made a joke out of the economic ordinance and made changes to the budget introduced by the Oli government,” the party accused. Despite UML’s obstruction, the ruling government announced its endorsement of the budget replacement bill.

Besides, the ruling government also scrapped the popular plans and programs of the Oli-government and gave more priority to their own vested interests rather than economic problems of the country, reads the statement.

Similarly, the UML also claimed that the inflation rate has doubled and the government has set the market loose by adhering to false economic policies.

Read the full text of the press statement here: