Govt working to create employment by promoting investment environment: PM Oli

Kathmandu, Feb 16: Prime Minister KP Sharma Oli has said the government is consistently working towards legal and institutional reforms for creating employment by promoting the investment environment in the country.     

Responding to the queries by lawmakers in today's meeting of the House of Representatives, he said that all works have been carried out accordingly giving priority to programmes to increase production, productivity and employment to provide employment opportunities to the unemployed youth.     

"The government is providing concessional loans up to Rs 2.5 million to startup enterprises to create employment opportunities in the country. In the current fiscal year, 1,000 people are to get concessional loans through this programme," he said.     

Stern action will be taken against anyone misappropriating foreign currency     

He said action would be taken as per the law if anyone was found misappropriating foreign currency illegally. He clarified that legal action would be taken as per the Foreign Exchange Regulation Act, 2021 BS.     

The PM said that however arrangements have been made to facilitate investment exchange in the information technology sector.     

"Article 25 of the Constitution of Nepal states that every citizen shall have the right to acquire, enjoy, sell, obtain commercial benefits and carry out other transactions of property subject to the law under the right to property," he said adding that the ceiling of property has been determined with the provision of land ceiling and progressive tax system in the relevant laws.     

Stating that the provision of free and compulsory education up to the basic level and free education up to the secondary level is already under implementation as per the constitution of Nepal, the Prime Minister said providing the university education could also be made free in future as permitted by the means and resources at disposal.     

He made it clear that no provisions for giving capital punishment to people convicted of corruption could be made as Article 16 of the Constitution of Nepal, in the context of living with dignity, states that no law shall be made to punish anyone with the death penalty and as Nepal is a state party to the Second Optional Protocol of the International Covenant on Civil and Political Rights.     

Stressing that the present government is committed to implementing the concept of 'Prosperous Nepal, Happy Nepali', keeping in mind the issue of securing the goal of socialism-oriented economy through high economic growth, equitable distribution and equal access to development, the PM said various social security programmes have been used to give shape to socialism. 

PM Oli added that the Social Security Fund has also been developed as an important mechanism for social security.     

Govt serious about completing 'national pride' projects on time     

Prime Minister Oli also said on the occasion that the government was serious about completing big projects of national pride and national priority on time.     

He said he was serious and sensitive about the timely completion of big projects of national pride and national priority, including Sikta Irrigation and Babai Irrigation Project.     

"Out of the outstanding liabilities of these projects to be paid at the end of the fiscal year 2080/81, Rs 22.43 billion has been paid so far,” he added.     

According to him, the project planning outline has been approved and implemented in consultation with the National Planning Commission and other ministries concerned to improve the development pattern, speed and culture.     

Prime Minister Oli expressed the confidence that with this modality the projects would be completed effectively on time by utilizing limited resources efficiently. He said that he has been monitoring the projects from the 'Action Room' at the Office of the Prime Minister and Council of Ministers and facilitating their timely completion.(RSS)