Govt committed to creating employment, preparing investment climate: PM Oli
KATHMANDU: Prime Minister KP Sharma Oli has said the government is committed to legal and institutional reforms aimed at creating employment by fostering a favourable investment environment.
In Sunday's House of Representatives session, Oli addressed lawmakers' queries, stating that efforts are concentrated on programmes to boost production, productivity, and employment, thus offering job opportunities to unemployed youth.
"The government is providing concessional loans of up to Rs 2.5 million to startup enterprises to generate employment. This fiscal year, 1,000 individuals will benefit from these concessional loans," he explained.
Oli emphasised that legal action would be taken against anyone found illegally misappropriating foreign currency, as stipulated by the Foreign Exchange Regulation Act, 2021 BS.
He also highlighted measures implemented to facilitate investment in the information technology sector.
"Article 25 of the Constitution of Nepal guarantees every citizen the right to acquire, enjoy, sell, and obtain commercial benefits from property, subject to the law. Property ceilings have been established, including land ceilings and a progressive tax system," he mentioned.
The Prime Minister underscored the implementation of free and compulsory education up to the basic level and free education up to the secondary level. He mentioned that university education could also be made free in the future, depending on available resources.
Oli clarified that capital punishment for corruption could not be imposed, as Article 16 of the Constitution prohibits the death penalty. Nepal is a state party to the Second Optional Protocol of the International Covenant on Civil and Political Rights.
Highlighting the government's commitment to the 'Prosperous Nepal, Happy Nepalis' concept, Oli stressed the goal of achieving a socialism-oriented economy through high economic growth, equitable distribution, and equal access to development. He mentioned that various social security programmes have been designed to promote socialism.
Oli added that the Social Security Fund has been developed as a vital mechanism for social security.
The Prime Minister affirmed the government's dedication to completing major national pride and priority projects on time.
He expressed his commitment to the timely completion of significant projects, such as Sikta Irrigation and Babai Irrigation projects.
"Of the outstanding liabilities for these projects, Rs 22.43 billion has been paid so far," he said.
Oli stated that the project planning outline has been approved and implemented in consultation with the National Planning Commission and other relevant ministries to enhance development patterns, speed, and culture.
The Prime Minister expressed confidence that, with this approach, projects would be completed efficiently and on time, by making optimal use of limited resources. He mentioned monitoring the projects from the 'Action Room' at the Office of the Prime Minister and Council of Ministers to ensure their timely completion.
By RSS
