FinMin Poudel stress budget implementation to provide relief to COVID affected business

KATHMANDU: Finance Minister Bishnu Poudel has prioritized on implementing different relief packages announced in the budget for COVID-hit businesses, as per sources at the Ministry of Finance (MoF).

Following complaints from the private sector and the business community that government agencies are reluctant to give different reliefs stated in the budget speech, Poudel has started consultation with government agencies on their failure to implement relief provisions in the budget.

“Business community have been complaining that they are not getting discounts that the budget has given to them. Thus, the MoF and Finance Minister is closely watching on hindrances of budget implementation,” said a MoF source seeking anonymity.

The budget for 2020-21 fiscal year has announced of various stimulus packages including concessional loan, interest subsidy, discount on electricity tariff and other taxes to industries and businesses affected by the pandemic. However, the business community have been saying that government agencies are unwilling to implement these decisions of the government.