KATHMANDU: Finance Minister Shankar Koirala has said that Nepal Government is preparing to establish a security printing in the country in the offing.

At the First National General Convention of the Nepal Printing Industry Association here today, the finance minister said establishing a special press to stop national currency from going outside the country as the nation has to invest a large amount of money for security printing abroad has been inevitable.

The printing industry not only supports in revenue collection but also creates opportunity of employment and supports the state and that the government was positive to address the problems of the printing entrepreneurs.

The government has a policy to work in the public-private partnership for making the economy dynamic and development of industries, said Koirala. The government is ready to reform the existing laws and move ahead if there is something unclear in acts and regulations, he said.

KATHMANDU: Finance Minister Shankar Prasad Koirala, who is also undertaking the role of Industry Minister, has directed the officials of the Industry Ministry to improve their performance.

At an annual review meeting of the Departmental Chiefs today, Koirala suggested that the officials should handle the grievances of the consumers about quality of cement, edible oil and medicines.

He also directed to book the business firms and people if found involved in adulteration and substandard.

Suggesting to making their work place coordinative and technology-friendly, he stressed that bodies directly concerned with people should be public-oriented, transparent and service-oriented.

The Industry Minister said that complaints of general public have not been decreased towards the Bureau of Standards and Metrology although there was some improvement on the Office of the Company Registrar and Department of Industries.

KATHMANDU: Nepal’s finance minister on Sunday announced a full budget of Rs 517.24 billion for the fiscal year 2013/014. Finance Minister Shankar Prasad Koirala presented the budget in the National Planning Commission at Singha Durbar. 

Of the total budget, Rs. 385 billion has been allocated for current expenditures and Rs. 85.1 billion for capital expenditure.

Reading out the budget, Finance Minister Koirala said the government has allocated Rs. 241 billion 580 million for development-construction works and Rs. 275 billion 660 million for general expenditures.

The government targets to meet the budget expenses through the collection of Rs. 354 billion and 500 million through revenue sources, Rs. 5.5 billion from return of principle returns and Rs. 69.54 billion from foreign donation. Likewise, the deficit would be met through foreign loan worth Rs. 43.7 billion and domestic loan worth Rs. 44 billion.

As per the budget statement, Rs. 16 billion has been allocated for the CA polls scheduled to be held on November 19.

The government has also increased the salaries of the government employees and security personnel by 18 per cent. In addition, they will receive a monthly allowance of Rs 1,000.

The budget for F/Y 2013/14 also estimates an economic growth rate of 5.5 per cent while limiting the inflation rate to 8 per cent.

Also present on the occasion were Heads of the constitutional bodies, chiefs of the security agencies, leaders of the major four political forces, government secretaries and other officials, and the businessmen and industrialists, as well as media persons to cover the event.

Likewise, the government has allocated Rs 16 billion for holding the upcoming Constituent Assembly (CA) election.

The Government has increased the salary scale of all civil servants including army and police personnel and teachers by 18 per cent with effect from new fiscal year 2013/14.

According to the budget estimates for 2013/14 presented by Finance Minister Shanker Koirala today, along with the 18 per cent rise in basic salary the civil servants will also get an allowance of Rs. 1,000 per month.

KATHMANDU: Finance Minister Shankar Koirala has hinted at the possibility of salary increase of the government employees.

“Provision of Civil Service Act to review the salary of government staffers should be respected. Now, we are holding discussions in it,” Minister Koirala told a team of journalists led by Reporters Club’s Chairman Rishi Dhamala.

The team has submitted a memorandum to Koirala demanding budget for development and expansion of journalism in the next fiscal year.

The Finance Minister said that the government would take decision on salary hike based on revenue collection and country’s capacity. Minister Koirala said that the upcoming budget would be focused on economic development of the country.  The new budget would help create investment-friendly environment and develop trust between private sector and government side. 

He further went on to say that the new budget would prepare basis for economy and handover the dynamic economy to the elected government.  Koirala also said that the budget would give top priority to energy sector.

Receiving the memorandum, Koirala said he attention was drawn to the problem facing country’s media sector. He also made commitments that the government would leave no stone unturned to implement the Working Journalist Act and draft necessary policy.

Koirala also praised the roles of Club’s for democratic movement, media sector’s development, political outlet and human rights.

KATHMANDU: Minister for Finance Shankar Prasad Koirala has said that civil servants’ promotion, transfer and deputation would be based on procedures fixed by the Act.

Receiving a memorandum submitted by different trade unions affiliated officials today, Koirala said he would not waste his time for officials’ promotion and transfer.

“I could have started from the secretaries and joint secretaries if I had touched this,” he added. He also made it clear that no one would be transferred while preparing the new budget.

Koirala said that he would coordinate with the stakeholders if any decision was taken.

On the occasion, the civil servant’s asked Minister Koirala to increase the officials’ payment collectively as increment of salary in percent would not fill gap between officials’ discrimination.

Minister for Finance Shankar Koirala has said that the upcoming budget would give top priority for mega projects, energy sector, tourism and export.

He said, “Budget will be free from any political slogans. We will focus on development.”

Speaking at a program in the capital, Minister Koirala said poverty alleviation, increasing employment opportunities, creating investment-friendly environment, increasing foreign investment and economic good governance would be the main goal of the budget .

KATHMANDU: Finance Minister Shankar Prasad Koirala has said that the full budget was unveiled by giving due priority to the projects of national importance.

Speaking at an interaction program at the Reporters Club on Thursday, Minister Koirala said Rs 6 billion was allocated for the upcoming CA elections.

Club’s Chairman Rishi Dhamala presided over the interaction program.

Likewise, over Rs 15 billion was allocated for the energy sector considering the impact of the power outage on the industries of the country. For the time being power would be purchased from neighbouring India and will be provided in existing price with subsidy from the government if it costs higher than usual, he added.

Stating that the government has adopted a policy of increasing investment on industries that displace imports, the Finance Minister also disclosed that a revenue advisory committee has been formed to carry out necessary home work for the new fiscal year budget.

President of Nepal Chamber of Commerce Suresh Kumar Basnet and Officiating President of Federation of Nepalese Chambers of Commerce and Industries Bhaskar Raj Rajkarnikar said despite being an election government the budget it has tabled is likely to show goods signs for economic progress of the country.

Likewise, FNCCI Vice-president Pradip Raj Pandey and industrialist Diwakar Golcha said the appropriation of Rs. 300 million for promoting export-based industries was a good beginning for minimizing the trade deficit.

KATHMANDU: The Government has presented a full-size adjusted budget of Rs 404.82 billion for the final three months of the current fiscal year 2012/13.

Of the total budget appropriated for the period, Rs. 279.1 billion or 68.92 per cent is allocated for recurrent expenditure, Rs. 66.13 billion or 16.34 per cent for capital expenditure and Rs. 59.67 billion or 14.74 per cent for financing provisions.

Reading out the budget from the meeting hall of the National Planning Commission here this evening, Finance Minister Shankar Prasad Koirala said the budget or the estimate of revenue and expenditures was presented while adjusting the appropriated amounts in the ordinances promulgated by the President on July 15 and November 20, 2012.

According to the budget estimates, of the sources of financing, Rs. 289.60 billion will be covered from revenue, Rs 4.39 billion from receipt of principal repayment and Rs 46.98 from foreign grants.

KATHMANDU: Nepal’s interim government is brining a budget for remaining three months of the current fiscal year 2069/070 BS. Finance Minister Shankar Prasad Koirala would read out the budget at 4:00 this afternoon.

Over 50 billion would be allocated for the remaining three months of the current fiscal year. The total size of the budget is expected to be Rs 438 billion, a source at the Finance Ministry said.

Earlier, on Monday spokesperson at the Ministry Krishna Devkota had said that the budget would exceed Rs 400 billion. The budget is likely to focus on regular expenditures of the government and upcoming Constituent Assembly elections.

This is the third time that the Nepal government is announcing budget in a single economic year.

BIRATNAGAR: Nepal’s Finance Minister Shankar Koirala, a bureaucrat turned minister, has announced to bring full budget within two/three days. He however said that the new budget in not likely to unveil any new program.

Inaugurating the 59th anniversary of Morang Merchant´s Association on Saturday, he said the new budget would allocate budget for CA elections and giving a life to the mega projects.

Koirala also said that the government would also work to establish foundations for long-term economic development.