Kathmandu, March 31: Finance Minister Swarnim Wagle has said the government will introduce a budget different from previous ones, with a focus on promoting a liberal economic framework.
Speaking during a meeting with a delegation from the Confederation of Nepalese Industries on Sunday evening, Wagle said the government intends to use the current political moment to push economic progress.
“We now have a strong government. There is a high public expectation and trust. We want to use this important time for the country’s advancement,” he said. “The private sector has gained the political stability it was seeking. Now we must deliver economic prosperity. The upcoming budget will address things differently.”
He said the government will encourage a liberal economy while creating a business-friendly environment for the private sector. At the same time, he made it clear that liberalisation would not mean a lack of regulation.
Highlighting early steps, Wagle said the government scrapped 15 laws on its very first day to signal its support for private enterprise. “We have already shown that the government and our party are open and supportive toward the private sector. We will promote a liberal economy, but we will also regulate to prevent excesses,” he said.
He urged the private sector to engage in industry and trade with integrity, assuring full government support in return.
Wagle also called for the development of model industrial parks and encouraged the private sector to attract large multinational companies or investments to help create an investment-friendly climate. He said the government is committed to protecting investments from domestic, large-scale, and multinational firms and will extend all necessary support.
“We are committed to ensuring the safety of investments, whether domestic or foreign,” he said. “You should feel encouraged to invest and help create an environment that attracts foreign capital.”
People’s News Monitoring Service
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