3 years ago
Former Finance Secretary Shantaraj Subedi says that regular administrative expenses cannot be deducted during the election, public health and education budgets cannot be deducted, and finally the money will be deducted from the development project.
The burden of foreign debt is increasing at a high rate every month. The government has made new proposals by seeking loans from foreigners to mobilize financial resources for various schemes. Where in Industrialists / entrepreneurs are demanding a package of revival.
Amid pandemic, government of Nepal is struggling to manage funds for the Covid-19. Oli’s decision of dissolvement of Constitution with announcement of New Election date has arisen chaotic situation impacting economy and political instability.
The government of Nepal is already dependent to other nation for importing vaccines against corona virus infection, and not even sure when vaccine will arrive in Nepal.
In the same time, the national economy has been hit hard by the pandemic, the government has been unable to collect its targeted revenue.
And now, with the dissolvement of House of Representatives, the country has a greater responsibility of conducting elections of House of Representatives in April and May next year.
The polls are likely to cost more than Rs 20 billion as speculated from the amount government spent on 2017 parliamentary elections.
According to officials the government will cut down on the allocated development budget to fund the polls.
“You cannot reduce regular administrative costs. Neither can you cut the budget allocated for public health and education,” former finance secretary Shanta Raj Subedi says. “Ultimately, it is certain that the amount will be generated from development projects.”
Another former finance secretary Rameshwor Khanal agrees. “I don’t think there will be a budget crunch for the polls. Nonetheless, whether the elections are a priority and need today is an issue.”
The Ministry of Finance does not have any plan about the elections now. “But, the government has to manage money anyhow although it is not certain how it will be possible,” an official says.
“Perhaps, options will be explored after the finance minister will brief us about the situation,” the ministry’s spokesperson Rameshwar Dangal said.
