Kathmandu. Finance Minister Dr. Swarnim Wagle has stated that the government’s main priorities are good governance, economic restructuring, and infrastructure expansion.
Addressing the Nepal Business Summit organized in Kathmandu on Monday, he said that accepting the unprecedented mandate given by the Nepali people, the current government is working with good governance, economic restructuring, and infrastructure expansion as its main priorities.
Finance Minister Wagle claimed that Nepali society has had to pay a heavy price due to ten to fifteen years of misgovernance, and the country will now be freed from it. Stating that the government’s goal is to spread the ‘dividends of good governance’ in Nepali society, Wagle clarified that the upcoming budget will be reformist.
According to him, institutional and legal reforms, amendment of dozens of laws, and extensive use of information technology and digitalization will be done to promote good governance. The government is prioritizing e-governance, public service delivery, and building the foundation of a digital economy.
He stated that since Nepal’s economy has become excessively remittance-based in the last two decades, emphasis should now be placed on creating sources of sustainable economic growth. He clarified that the government has adopted a policy of reducing dependence on remittances in the coming decades and making clean energy, digitalization, tourism, green production, and high-value agriculture the basis of economic growth.
Stating that the government will pay special attention to building a digital economy that connects youth with the world while staying in Nepal, Finance Minister Wagle informed that the government is moving forward with programs for import substitution and industrial policy in some sectors. Stating that the government will adopt an integrated approach to infrastructure development, he mentioned that special emphasis will be given to road network expansion, energy connectivity, clean energy grid, reliable internet service, and aviation security. He said that the government’s goal is to connect Nepal more strongly internally, regionally, and with the world.
According to Finance Minister Wagle, the government has prioritized quality health, education, nutrition, basic financial access, and building a sustainable social security structure in the social sector. He said that foreign relations will be advanced in a new way.
He also stated that the network of non-resident Nepalis around the world will be utilized not only as an emotional connection but also as a means of investment, educational exchange, and expansion of cultural influence. Mentioning that huge private sector investment is necessary for infrastructure expansion, Finance Minister Wagle clarified that the government’s capital expenditure alone will not be sufficient.