The Ministry of Finance (MoF) has defended the government’s recent ordinances, asserting that they will facilitate the effective implementation of the annual budget.
At a press meet on Sunday, Finance Minister Bishnu Prasad Paudel explained that the amendments introduced through the ordinances address practical issues in the budget formulation process. “These changes will streamline the management of financial resources and accelerate the development of regulations and guidelines aligned with the revised provisions,” said Paudel.
The ordinances, enacted last week, focus on policy reforms in areas such as land, investment, and government service delivery. Key updates include amendments to the Foreign Investment and Technology Transfer Act and the Companies Act, aimed at enhancing the business environment and attracting investment.
Prime Minister KP Sharma Oli, speaking at an event on Thursday, emphasized that the ordinances reflect the government’s commitment to good governance and development. However, opposition parties criticized the move, warning that some provisions might lead to the misuse of state resources.
The ordinances have garnered public attention, particularly those involving the revision of land use policies, the reallocation of idle funds from public service entities, and the elimination of certain actions against black marketeers. Finance Minister Paudel countered these criticisms, stating that the changes were designed to bolster private sector confidence and align with the government’s broader objectives.
Revenue Collection Increases by 12.7% in Six Months
The government reported a 12.7% rise in revenue collection during the first half of the current fiscal year compared to the same period last year. According to the MoF, revenue collection reached Rs 559.61 billion—83.2% of the targeted Rs 672.82 billion and 39.4% of the annual goal of Rs 1.419 trillion.
Tax revenue also grew by 10.3%, amounting to Rs 489.40 billion, compared to Rs 443.55 billion during the same period last year. This represents 81.2% of the targeted Rs 602.71 billion and 38.1% of the annual tax collection target of Rs 1.284 trillion for FY 2024/25.
