Finance Minister Dr. Swarnim Wagle has urged to resolve policy and legal hurdles of economic reforms announced in the budget on a mission mode.
Finance Minister Dr. Swarnim Wagle said that policy and legal difficulties in economic reforms announced by budget must be solved in mission mode. He shared this during discussion held at the Ministry on Thursday (yesterday) about reform plans related to Industry Ministry for fiscal year 2083/84.
Cooperation Between Ministries
In the discussion held in presence of Industry Minister Gauri Kumari, Finance Minister emphasized that every ministry should make a schedule and move forward with policy and legal reform works in industry, commerce, and supply sectors. He noted that many economic reform programs announced in budget fall under Industry Ministry, so both ministries must increase cooperation to solve these issues.
“I request Industry Ministry to actively start working on policy and legal reforms mentioned in budget,” Finance Minister Wagle said. “Please let us know what experts, resources, or other support you need from Finance Ministry.” He also said that urgent legal works to creating investment-friendly environment, facilitate trade, and attract foreign investment must be completed within few weeks.
Eight Reform Programs Under Discussion
Speaking at the discussion, Industry, Commerce, and Supplies Minister Gauri Kumari said her ministry is doing homework to move budget reform plans forward. She said it is important to coordinate and take technical support from Finance Ministry for tasks under her ministry’s jurisdiction.
She added that there are eight reform programs under the Industry Ministry in budget. Work has started on some programs, while others are in the process of being started.
In the current fiscal year budget, eight legal and policy reform plans are announced under Ministry of Industry, Commerce, and Supplies. These plans include amending Company Act and Insolvency Act, as well as making new laws like Debt Recovery Act and Intellectual Property Protection Act.
Since the new fiscal year budget has come into implementation, Finance Ministry has now made schedule to regularly discuss and take progress reports from responsible ministries regarding implementation of programs announced in budget.
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