June 29:  The meeting of House of Representatives has approved an important proposal regarding the 'Bill to raise national debt, 2080'. The proposal, presented by Finance Minister Dr. Prakash Sharan Mahat, received a majority of votes in favor on Wednesday.

During the meeting, several members of parliament, including Dr. Swarnim Wagle, Gokarna Bista, Prem Suwal, Sumana Shrestha, Ashok Kumar Chaudhary, and Amrit Lal Rajbamshi, participated in the discussion on the theoretical aspects of the bill.

Queries raised by the members were addressed by Finance Minister Dr. Mahat, who assured that the government had been mindful of maintaining the national debt within a manageable limit and making efforts to reduce the burden.

Dr. Mahat emphasized that the government's focus was on effectively utilizing the loans received, rather than solely focusing on the volume of loans.

Minister Mahat  clarified that the government has established a policy to carefully plan and allocate multilateral and bilateral loans to specific sectors after conducting thorough groundwork.  Additionally, he mentioned that loans with subsidized interest rates below one percent were given priority.

Regarding the utilization of the loans, Dr. Mahat highlighted that the government intended to invest them primarily in infrastructure development, particularly in the tourism and energy sectors.

The House of Representatives is scheduled to reconvene on Sunday, July 2, at 11:00 am for further proceedings. (RSS)