Government Vows "Mission Mode" Push to Revive Capital Spending

Kathmandu — The government is committed to changing the pace and rhythm of capital expenditure by launching an aggressive series of operational reforms, Finance Minister Dr. Swarnim Wagle announced through the budget.

Wagle said the government will work in "mission mode" to complete projects within the set cost and time by improving the procurement process, ensuring flexibility in resource management including fund transfers, mobilising alternative financing, and ensuring stability in project chiefs' tenure.

A sunset law on development projects will be tabled in Parliament within the current fiscal year. Arrangements will be made to track mobilisation advance amounts so that they can be spent only on the relevant project.

An initial pipeline of infrastructure projects that can be built under the hybrid annuity model will be ready within three months.

The Finance Minister also said the government will appropriately address the difficulties faced by construction entrepreneurs due to the price rise in fuel, bitumen, and other construction materials caused by the conflict in the Middle East.