Kathmandu : Finance Minister Dr Prakash Sharan Mahat has held discussion with former finance ministers in regarding to the preparation of budget for upcoming fiscal year.

On the occasion, former Finance Ministers suggested to prepare practical budget, adopt tough austerity measures and avoid mooting new projects, FM Mahat's Secretariat said.

Finance Minister Mahat said he was effortful to prepare a budget in a way to address the country's current economic condition and expressed the hope that he would get support from all for the same.

He mentioned he was involved himself to reduce expenditure in view of low revenue collection against the target, allocate budget only to the prioritized projects and boost self-confidence of private sector.

Priority would be accorded to the infrastructure projects that could be completed on time and implemented immediately, said Minister Mahat.  Finance Minister expressed the hope of constant support from other former finance ministers.

Former Finance Ministers—Gyanendra Bahadur Karki, Dr Prakash Chandra Lohani, Dr Yubraj Khatiwada and Surendra Pandey were present on the occasion.