Kathmandu: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel shared optimism about Nepal's economic recovery during an interview. He emphasized that despite challenges like the COVID-19 pandemic, the Russia-Ukraine conflict, and global economic stress, Nepal's economy is on the path to improvement under his leadership.

Economic Recovery Efforts
Minister Paudel highlighted several initiatives undertaken in his first four months in office. A 100-day action plan was implemented, achieving over 90% of its goals. Key reforms included laws and policies on insurance, customs, taxation, and revenue mobilization. New systems like luggage and vehicle scanners at customs and SMS/email updates for traders were introduced to streamline trade.

Revenue collection has improved, with a growth rate of 17% compared to 3.2% last year. Capital expenditure has increased by NPR 4 billion in the first four months of this fiscal year, and remittance inflow and foreign currency reserves have also shown positive trends. Paudel also mentioned steps to revive closed industries and attract investment from non-resident Nepalis.

Addressing Concerns
Minister Paudel acknowledged ongoing issues, such as delays in payments to contractors and challenges in capital expenditure. He stressed that the government is working to clear these dues and improve project classifications and resource management. He also emphasized the need to boost productivity, create jobs, and address the private sector's concerns.

Coalition Stability
On political matters, Minister Paudel dismissed rumors of instability in the coalition government, comprising the Nepali Congress (NC) and CPN (UML). He stated that the alliance, built on shared goals of political stability and development, is functioning smoothly with a structured mechanism for decision-making. He expressed confidence that the coalition would last until the next general elections.

Prime Minister's Visit to China
Minister Paudel praised Prime Minister KP Sharma Oli's recent visit to China as historic and beneficial for Nepal's economic development. He noted that the visit focused on implementing past agreements and securing new ones, particularly in infrastructure development.

Party Unity and Leadership
Regarding the CPN (UML), Minister Paudel dismissed reports of internal conflicts, asserting that the party remains united under the leadership of KP Sharma Oli. He expressed confidence that Oli would continue leading the party after the next general convention, citing his vision and leadership capabilities.

Minister Paudel concluded by reiterating his commitment to driving economic growth and addressing the remaining challenges facing the country.