A meeting of Prime Minister Jhalanath Khanal, Maoist Chairman Pushpa Kamal Dahal and Madhesi People´s Rights Forum (MPRF) Chairman Upendra Yadav held at the prime minister´s official residence at Baluwatar decided to expedite the process of unveiling a new budget. [break]
According to the prime minister´s press advisor, Surya Thapa, the top leaders of the three ruling parties concluded that the new budget should not fall victim to political differences and wranglings. The meeting that started at 8:30 a.m. and lasted one and half hours also decided to initiate consultations with all the opposition parties.
There is a tradition of bringing the new budget every year around the first week of July--a week before the start of the new fiscal year sometime in mid-July.
The meeting of leaders of the ruling parties also dwelled on implementation of the five-point deal and the constitution drafting process, according to Thapa.
At another meeting later in the day, PM Khanal took stock of the latest macroeconomic and development situation in the country.
Finance Secretary Krishna Hari Baskota, during the meeting, apprised the PM and other senior leaders of the growing balance of payments deficit, high inflation, declining private sector confidence, liquidity crunch and problems faced by the financial sector, among other things.
Informing the leaders about the steps taken by the government to rejuvenate the economy, Baskota stressed the importance of a timely budget. He cautioned in particular that the absence of a timely budget this year also could seriously reduce revenue potential, thereby leaving a long-term scar on the economy and hurting the sources of financing.
(Courtesy: Prime Minister´s Office)
He requested the political leaders to start serious talks with all the parties, particularly Nepali Congress, to build a consensus on the principles and programs to be adopted in the budget for next fiscal year.
No problem if brought in consultation with opposition parties: NC
The main opposition Nepali Congress (NC) has said that it has no objections if the government unveils a new budget in consultation with the opposition parties in parliament.
NC Central Working Committee member Dr Ram Sharan Mahat said the NC has never spoken against bringing a new budget on time. “It would have been better had a new government unveiled the new budget. There is no alternative to bringing the budget on time even if the same government remains in place,” said Dr Mahat.
In the five-point deal reached before the extension of the Constituent Assembly (CA) for three months, Prime Minister Khanal agreed to step down from his post to pave the way for the formation of a national consensus government.
“We have no objection if the government brings a new budget on time in consultation with opposition parties. But we will protest against any unilateral move to bring the new budget,” Dr Mahat further said.
It may be recalled that the NC had protested a government move to bring an early budget before May 28, arguing that the government should give priority to concluding the peace process rather than bringing an early budget.
Prez stresses timely budget
President Dr Ram Baran Yadav has urged the top leaders of three major parties including UCPN (Maoist), Nepali Congress and CPN-UML to bring new budget on time.
During a meeting at Shital Niwas on Friday evening, President Dr Yadav cautioned the top leaders that any delay in bringing budget could seriously hurt the already ailing economy.
Maoist Chairman Pushpa Kamal Dahal, NC President Sushil Koirala and CPN-UML Chairman and Prime Minister Jhalanath Khanal had reached to Shital Niwas. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari had apprised president of the problems that the economy could face due to delay in bringing new budget.
According to the president´s press advisor Rajendra Dahal, President Dr Yadav also urged the top leaders to fulfill the commitments made in the five-point deal.
FM briefs speaker on new budget
Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari on Friday informed Speaker Subas Nembang about his preparations to introduce new annual budget by Mid July.
Sources at the parliament secretariat said Adhikari wanted to bring the new budget by completing all the procedures including that of holding pre-budget discussion. According to officials, the finance ministry is preparing to table the proposal for pre-budget discussion on June 22.
"I suggested to the finance minister to bring the budget in time and to take consent of the main opposition and other political parties as well," Speaker Nembang told Republica. He also suggested Adhikari to hold pre-budget discussion as well.
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