Finance Minister Confirms Budget Release for Stalled Projects Based on Necessity

Kathmandu. Finance Minister Rameshwor Khanal has stated that the process of releasing budgets for stalled projects based on their necessity is ongoing.

Responding to a question raised by lawmaker Bhuwan Bahadur Sunar during the National Assembly meeting on Wednesday, he informed that the budgets for some projects have already been released and they have even commenced implementation. He explained that unproductive projects were halted because, at the time of the current government's formation, a large financial resource needed to be secured for the reconstruction and repair of structures damaged during the movement, and for the resumption of public services.

He also mentioned that a significant budget was required to conduct the elections for both the National Assembly and the House of Representatives. He stated that the budget for some projects had to be suspended because insufficient allocation to ongoing and important projects created liabilities that could not be paid.

He clarified that only projects that were unprepared, not yet in the procurement process, or small and fragmented projects that were unlikely to provide immediate benefits to the macro-economy have been suspended. He further stated that arrangements have been made to progressively release the budgets for projects whose designs and estimates are complete, those in the tender process, or ongoing projects and those for which agreements have been signed with consumer committees, through the respective ministries.

According to him, under this arrangement, funds for many projects have now been released and are in the process of implementation, while some projects have already started.