Finance Minister Wagle Criticizes Investment Board Over Stalled Projects

Kathmandu. The 13th meeting of the Investment Board's Monitoring and Facilitation Committee has concluded. The meeting was held on Tuesday at the Ministry of Finance under the coordination of Finance Minister Dr. Swarnim Wagle.

During the meeting, Finance Minister Wagle stated that it is shameful that only two out of 55 approved investment projects have moved into the construction phase. He emphasized the need for a critical review, noting that no work has been done despite the long duration since the approval of foreign investments.

Minister Wagle questioned who is responsible for the lack of progress in projects after accepting foreign investment, stating that if it is a matter of personnel or laws, they must be changed. He warned that if there is no further progress by the 14th meeting, the government will take strict measures. He added that the helplessness of such a powerful body meant to facilitate investment sends a very negative message.

Finance Minister Wagle stressed that immediate progress must be seen in at least 10 projects. Prime Minister's Advisor on Policy, Administration, and Good Governance, Sudeep Dhakal, remarked that the state of the country's future-bearing projects and development initiatives is extremely pathetic. He urged for immediate identification and resolution of the obstacles hindering project advancement, stating that future monitoring will focus on identifying which agencies, individuals, or coordination failures are responsible.

Investment Board CEO Sushil Gyawali provided information regarding the office and committee's duties, rights, and the status of projects approved and facilitated by the Board. He also clarified the implementation status of decisions made during the previous 12th meeting.