KATHMANDU, MARCH 2 : Finance Minister Baburam Bhattarai highlighted his foreign aid mantras here in Singhadurbar on Monday in a meeting with local donor agency representatives.
The gathering was held as a part of preparation for the coming Nepal Development Forum meeting. "Government will come up with realistically set up clear priorities of the development for coming three years before the NDF," Minister Bhattarai assured the representatives.
According to Bhattarai, Peace, democracy and development will be the three main highlights in the paper which will be presented on the behalf of Government of Nepal in the Forum meeting. "No peace no development and no development no peace," he reiterated.
Meanwhile, he urged the development partners to realize constraints and acknowledge transition realities of our country. He also appealed them to adopt a 'transitional sensitive approach' to Nepal's development needs rather than standard normal applicable approach.
Minister Bhattarai requested the donors not to set priorities themselves but to help set them, and he specially underscored the need to provide aid within the framework of the priorities set up by Nepal Government.
He gave importance to avoid duplication, overlapping and fragmentation of aid especially at the grass root level.
Finance Minister also presented some reflections on the situation of implementation of current fiscal year budget. According to him, macro economic situation is sound. Most of the indicators are satisfactory. Revenue is hitting its target successfully. Fiscal deficit is at appropriate level. External assistance also is coming as committed. Remittances are still dominant for FOREX reserves.
But, he acknowledged that the capital expenditure is not happening as per expectation. He hopes it will pick up in the later months of fiscal year, as efforts are actively underway to establish local mechanisms to expedite local spending .
In the occasion, he also informed that next year budget will be presented in May or early June and this will provide ample time for the government from the coming year to implement the budget.
