The country has secured investment commitments of around Rs 34 billion across 200 industries within the first 100 days of the formation of the current government.
During a national address on Wednesday, Prime Minister KP Sharma Oli noted signs of economic improvement in the country.
The prime minister stated that the establishment of various commissions, including a high-level commission to recommend economic reforms based on private sector demands, has instilled greater confidence among entrepreneurs. He also said that the process of obtaining Nepal's Sovereign Credit Rating from an independent international expert organisation has reached its final stage.
Furthermore, an agreement has been reached between the Nepal Oil Corporation and the Indian Oil Corporation to advance the expansion of pipelines from Siliguri in India to Charali in Jhapa, as well as from Amalekhjung to Lothar in Chitwan. This will include the construction of a terminal building to facilitate the supply of petroleum products and enhance storage capacity.
“Nepal Accreditation Centre has been brought into operation to ensure the quality of goods and services,” Oli added.
He reported that the federal government’s expenditures increased to approximately Rs 329 billion as of October 16 for the current fiscal year, compared to the same period in the previous year, while total revenue mobilisation reached around Rs 248 billion, reflecting a 13.3 percent increase. -- RSS