Nepal

National Budget 2080/81: NEA and HIDCL To Be Restructured 

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KATHMANDU, MAY 29In a parliamentary session on Monday, Finance Minister Dr.

Prakash Sharan Mahat unveiled the budget for the forthcoming fiscal year 2080/81.

Budget prioritises increase in capital expenditures: Finance Minister National Budget FY 080/81: 2023-2033 to be marked as Tourism Decade The announcement took place during a joint session of the National Assembly and House of Representatives in the federal parliament.

Addressing the joint session of the federal parliament this evening, Finance Minister Mahat stated that the Nepal Electricity Authority (NEA) will be restructured to promote electricity production.

NEA will be converted into a commercial organization, added Minister Mahat.

The government will make legal arrangements to restructure NEA in a manner that it can mobilise debt, according to Minister Mahat.

Similarly, Fin Min Mahat also stated that the government will also restructure Hydro Electricity Investment and Development (HIDCL) to make it more effective.

He also asserted the import of hydro electricity will be ascertained to gain revenue.Legal arrangements will be made in a manner to include private sector in the electricity business as well.

#13;The constitutional requirement obliges the government to reveal the budget on Jestha 15 each year. Earlier, on Jestha 05, President Ram Chandra Paudel, the incumbent at the time, had presented the ruling coalition government's policies and programs for the upcoming fiscal year.

Typically, the government formulates the budget based on its outlined policies and programs, serving as a blueprint for its planned course of action. .

This article first appeared/also appeared in https://thehimalayantimes.com 




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