Finance Ministry starts homework on resource management for disaster recovery

Kathmandu, Oct 6: The Ministry of Finance has started homework on the effect of flood and landslide on the economy and management of resources.

In a meeting of the Ministry's High Management Team today, Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel directed the Ministry to carry out homework in that connection as additional funds and resources will be required for rescue, relief and reconstruction since the flood and landslide caused by incessant rains on September 27, 28 and 29 have resulted in massive loss of life and property.   

According to the Finance Minister, although the damage caused by the disaster to the private shelter, road, hydropower projects, educational institutions, agriculture and trade and industrial sector, among other sectors, along with the human losses will have an adverse impact on the economy just when it was on an improvement trajectory, it is necessary to carry out works in order to prepare the basis for economic growth while moving ahead relief and reconstruction in an organized manner. 

Before the natural disaster struck, the Ministry of Finance, the International Monetary Fund, the World Bank and the Asian Development Bank had said Nepal's economy has been improving. (RSS)