Finance Minister Mahat: Dues of previous fiscal year will be cleared before Dashain

Kathmandu: Finance Minister Dr. Prakash Sharan Mahat has said the dues of the previous fiscal year to be paid to construction entrepreneurs would be cleared before Dashain.

Talking to media persons today, Minister Mahat shared, ‘We have already paid Rs 60-70 billion till the end of the previous fiscal year. Around six-seven billion rupees is remaining to be paid. It will be cleared before Dashain.’

The economic crisis is not as extreme as people are saying, he mentioned, adding, however, there are problem in some extent. Minister Mahat viewed that problem has surfaced due to lack of proper utilization of loan provided by the Rastra Bank.

‘The loan provided easily by banks were invested in any sector without thinking about its return. So its impact has now been seen,’ he opined. Minister Mahat further said interest rate has increased due to strict monetary policy and some entrepreneurs are facing problems due to this.

The government is now involving in making foundation of the economy, he stressed.

RSS