October 6: Finance Minister Dr. Prakash Sharan Mahat has said that outstanding dues from the previous fiscal year owed to construction entrepreneurs will be settled before Dashain festival.

While talking to mediapersons in Chitwan,  Minister Mahat said the government has already disbursed approximately Rs 60-70 billion towards these outstanding dues, with around Rs 6-7 billion remaining to be paid. Minister Mahat assured that these remaining payments would be completed prior to Dashain.

While acknowledging that there are economic challenges, Minister Mahat emphasized that the severity of the crisis is not as pronounced as some people claim. He pointed out that part of the problem stems from the improper utilization of loans extended by the Rastra Bank.

According to Minister Mahat, loans from banks were easily accessible and often invested without careful consideration of their potential returns, leading to the current economic repercussions.

He also noted that the strict monetary policy has contributed to an increase in interest rates, causing some entrepreneurs to face difficulties.

In response to these challenges, the government is actively working to strengthen the foundation of the economy, added Minister Mahat.