Former Finance Minister Surendra Pandey Criticizes Budget Allocation for National Pride Projects

Kathmandu. Former Finance Minister Surendra Pandey has said that the budget brought by the government for the upcoming fiscal year has not paid enough attention to some sectors. Speaking at a program organized in the capital, Pandey said that although the government has created many national pride projects, it has not been able to allocate sufficient budget to these projects. According to him, by scattering small amounts of budget to the current 24-25 national pride projects, none of the projects can be completed on time. He said that since the government has the power of majority, it should focus on a limited number of projects by clearly prioritizing them. Mentioning that the budget of most ministries is a continuation of the past, he said that more resources should be concentrated on projects that yield high returns.

According to Pandey, if the main projects can be completed on time by shifting the budget from low-priority projects, the economy can gain significant benefits. As an example, he said that if the expressway project is completed, the travel time from Birgunj to Kathmandu will be significantly reduced, which will have a positive impact on transportation, trade, and overall economic activities.

Pandey also said that one of the major problems faced by businessmen is the inability to recover outstanding amounts. According to him, when businessmen seek the help of police and administration to recover credit given, there is a tendency to dismiss it as a private matter. He mentioned that in developed countries, there are effective legal and institutional mechanisms for credit recovery, and such a system is also necessary in Nepal.

Stating that agriculture should still be considered the country's top priority, Pandey said that the agricultural sector is in a challenging situation this year. He said that the risk of shortage and price increase of chemical fertilizers has increased due to the rise in petroleum prices and uncertainty in the international supply chain.

Mentioning that geopolitical instability, especially related to the Strait of Hormuz region, can affect the supply of fertilizers coming to Nepal, he emphasized that the government should arrange sufficient chemical fertilizers in time. He also suggested to the government to effectively implement programs for relief, subsidies, and production protection for farmers.