Kathmandu: Finance Minister Rameshwor Prasad Khanal has assured that Nepal will not need to rely on donor agencies or neighboring countries for funding the upcoming House of Representatives elections scheduled for Falgun 21.

Speaking at a meeting with the newly elected working committee of the Society of Economic Journalists of Nepal (SEJON), Minister Khanal revealed that over 1,300 projects in the current fiscal year’s budget had not even been entered into the project bank, with about Rs 110 billion already allocated for them.

He added that an additional Rs 12 billion could be released from budget titles such as seminars and meetings. “The budget is being released especially for such projects, which would not have been spent after budgeting for the project,” Khanal said.

Election Budget and Priorities

Minister Khanal stated that the remaining funds will be utilized for reconstruction and the elections. Since about Rs 25 billion was spent during the last three-tier elections, he expects slightly lower expenses this time — though he warned that costs could rise due to the need for enhanced security and reconstruction of municipal buildings damaged during the recent movement.

He further clarified that the Council of Ministers is working to address all challenges faced by the Election Commission. “As soon as the Commission completes its necessary preparations, the Ministry of Finance will arrange the required budget,” he assured.

Business Recovery and Reconstruction Plan

Minister Khanal also disclosed that the government is preparing to table its Business Recovery Plan at the next Council of Ministers meeting. This plan aims to:

-Provide additional assistance to the families of those who lost their lives.

-Reconstruct public structures damaged during the movement.

-Support private sector recovery by offering customs duty exemptions on imported construction materials.

He added that a dedicated fund will be established to channel these resources, and if necessary, funds will also be raised through crowdfunding initiatives.

Commitment to Economic Revival

Minister Khanal said he received strong encouragement from his meeting with private-sector representatives and pledged to create an enabling environment for industrialists and businesses to recover, offering concessions and policy support where needed.

The government has also formed a team including the Ministry of Urban Development and the National Disaster Risk Reduction and Management Authority (JN) to collect detailed data on property damage.

“Our immediate priority is to restore public confidence, ensure treatment for the injured, and provide compensation to the families of those who lost their lives,” Khanal emphasized.