Deputy Prime Minister and Finance Minister Bishnu Poudel have admitted that we are slowly off the mark on revenue mobilization in the current fiscal year.
Inaugurating a building of Balaram-Tara Pradhan Energy Lab at Kathmandu University here today, Finance Minister Poudel reiterated that revenue mobilization this year is ineffective as compared to the last year.
"There is only 14 to 15 percent capital expenditure. It is also worrying," he said, adding that homework was going on to improve the situation and prepare the next year's budget accordingly. The entire economy is facing challenges, he added.
Interest rates, inflation, and trade balance are some challenges that need to be addressed. The Finance Minister sought cooperation from all stakeholders to restore the economy.
Minister Poudel also expressed worry over the exodus of youths for higher education and foreign jobs. "Numerous youths are leaving countries for quality education, which has dented State coffers," he observed. He pointed out the need for providing quality education for the overall development of the country.
On the occasion, he urged everyone to adhere to the ideals of the late hydro engineer Balram Pradhan.
The program was attended by the Vice Chancellor of Kathmandu University, Bhola Thapa, Registrar Dr. Achyut Wagle, and others.
The two-story green hydrogen lab was constructed for Rs 26 million. Among the total cost, Pradhan's family had provided Rs 4.5 million in assistance.
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