We Are Far Behind In Revenue Mobilization: Finance Minister Paudel

Jan 31, Kathmandu:  Deputy Prime Minister and Finance Minister Bishnu Paudel has said that revenue mobilization has fallen behind in the current financial year.

While inaugurating the newly constructed Balram-Tara Pradhan Energy Lab Building at Kathmandu University in Dhulikhel, Kavrepalanchok today (Tuesday), he said that the revenue of the same period last year has fallen far behind the operating rate.

"In the current fiscal year, we are lagging far behind in revenue mobilization, the capital expenditure is only 14 to 15 percent, which is much lower than this time last fiscal year", Minister Paudel said.

Expecting to improve from this situation, he said that he is worried about how to prepare the budget for the coming year. He mentioned that there is a challenge in the overall economic sector.

He said, "The question of interest rate, inflation, foreign inflation, the trade balance is in front of us. From the economic point of view, we have to face some challenges and some pressure, we are going to make it positive."

He was of the opinion that since the government faces the challenge of making the economic sector positive, the stakeholders should cooperate in the campaign to create a dynamic and developed economic situation by facing it.

Minister Poudel complained about the exodus of young manpower as there are also challenges in the quality of the education sector. "In search of quality education, Nepalese youth are forced to go to different countries of the world, from which a large amount of money has been repatriated", he said, "This is causing both money and young manpower to migrate."

He said that since it is within the government's responsibility to manage education to change the country as a whole, it is necessary to overcome this challenge and provide quality skill-based education.

On that occasion, he requested to follow the contribution made by hydro engineer Balram Pradhan in the energy sector. At the event, the Vice Chancellor of the University, Prof. Dr. Bhola Thapa, Registrar Dr. Achyut Wagle, Dean of the School of Science Manish Pokharel, and other professors working in the university. Pradhan discussed his contribution to the energy sector.

The two-storied green hydrogen lab building established in the university as the first organized lab in Nepal cost Rs. It was built at a cost of 2 million 68 million. Out of the total cost Rs. 45 lakh self. Pradhan's family helped.