Finance Minister lays emphasis on simplifying laws relating to development Business 360

Finance Minister lays emphasis on simplifying laws related to development work

File – Minister for Finance Janardan Sharma addressing the meeting of the House of Representatives in Kathmandu, on August 10, 2021. Photo: RSS

KATHMANDU: Finance Minister Janardan Sharma has said the laws and regulations related to large development works need to be simplified so that development activities can take place without any obstructions.

During a discussion on laws related to the facilitation of development works held at the Ministry of Finance on Wednesday, Minister Sharma mentioned that unclear laws and various other hurdles had hampered the development of large projects, hence such laws need to be revised.  “It is necessary to remove unnecessary hurdles from the policies so that the implementation of large projects can be made more efficient and effective,” he said.

Minister Sharma said projects which are capable of bringing about positive change in people’s livelihoods should be selected and their smooth implementation must be ensured. He pointed out the need to identify projects on basis of need rather than political influence.

The finance minister stated that in the past lawmakers endorsed laws without conducting an in-depth study on the related topic which has been causing problems in the development process at present. He stressed the need for conducting a thorough study of the related issues before formulating any law.

Also present in the discussion were Chief Secretary Shanker Das Bairagi, Finance Secretary Madhu Kumar Marasini and secretaries and representatives from other ministries.

The discussion focused on the existing procurement law, challenges in achieving the capital expenditure target, status of coordination among concerned bodies, and fiscal discipline, among others.

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