I will bring a budget that will touch the hearts of the people and be adopted by all: Finance Minister

Kathmandu, 17th March – Finance Minister Barshaman Pun (Ananta) has given instructions to prepare the budget for the next financial year 2081/082. Finance Secretary Krishnahari Pushkar, Revenue Secretary Ram Prasad Ghimire, Joint Secretaries of the Budget Writing Committee, Heads of all Divisions, Heads of Departments and Director General and Deputy Director General of the Ministry gave collective instructions on the priorities of the budget on last Saturday. Minister Pun said that he will form the budget that will include not only the common people but all stakeholders who has taken ownership.

He said that he would focus on creating jobs through production growth, reducing foreign trade deficit by substituting imports. For that, he said, emphasis should be placed on investment and export promotion in the promotion of manufacturing industry. The Minister of Finance asked to prepare a budget statement in coordination with the relevant ministries within the minimum common program between the ruling partner parties while preparing the budget. Minister Pun emphasized that there should be harmony between the government’s policies and programs, budget and monetary policy. He said that for that, there should be continuous dialogue between the relevant agencies in establishing an interface.

‘Policies that create more employment opportunities through production and productivity enhancement and import substitution and export promotion should be included in the budget’, Minister Pun said, ‘while allocating the budget, based on the concept of ‘benefiting every one’, it should touch more people and they should be able to take ownership. The Finance Minister has clear instructions.

Minister Pun said that the program of linkage between agricultural produce and the market will be kept in the budget. Similarly, he emphasized that the increase in the size of production is necessary for the stability of the market. The minister has instructed to pay attention to the program to connect agricultural production with market and enterprise.

Minister Pun directed to include in the budget, the issue of establishing new markets and financial centers in the areas around Mid-Hills Lokmarg and Hulaki Highway. Similarly, it has been asked to arrange that the equalization grants going to the local level cannot be amended in the middle of the financial year and to reduce the programs of conditional grants. He mentioned that his policy is to reduce the gap between revenue estimation and revenue mobilization and to emphasize public institution reform.

Similarly, he said that the state should pay special attention to social security, prosperity and social justice and bring programs focused on women, Dalits, disabled and backward societies.

In a different context, Pun said that this year’s budget will be, private sector and investment friendly. He believed that economic activities will expand only with a budget that encourages the private sector. “This year’s budget will be a private sector and investment-friendly budget”, Minister Pun said, “Since the policy of laying a ‘red carpet’ for genuine investors in the private sector will be taken, the budget will have to be made around this.

“Minister Pun formed a budget writing committee under the leadership of Dhaniram Sharma, joint secretary of the Ministry of Finance, with joint secretaries Ritesh Kumar Shakya, Mahesh Acharya, Ram Prasad Acharya, Ishowari Aryal and Parbati Sharma as members.

12 years ago, when he was the finance minister for the first time in the government led by Baburam Bhattarai, Pun was unable to bring the budget due to the obstruction of the opposition.