Kathmandu: The estimated cost of implementing the 16th Plan of the government is approximately Rs 11.1 trillion, the National Planning Commission (NPC) announced on Wednesday.
NPC Vice Chairman Dr Min Bahadur Shrestha, while informing the media about the periodic plan and cost estimate approved by the Council of Ministers on Tuesday, assured that there would be no issues in securing the necessary investment for the plan’s implementation.
NPC Spokesman Yamlal Bhusal added that the cost for achieving the objectives of the 16th Plan exceeds Rs 11.1 trillion. He emphasized that partnerships with the private sector would be enhanced to ensure this funding.
According to Bhusal, one of the strategies of the 16th Plan is to increase production, productivity, and competitiveness by identifying and addressing structural obstacles in all areas and dimensions of development.
He stated, "The goal is to implement a sustainable development plan by strengthening the inter-relationship and functional capacity between the government, private, cooperative, and non-governmental sectors, as well as all three levels of government - federal, provincial, and local."
The NPC spokesman also highlighted that activities will be aligned with goals of gender mainstreaming, use of modern technology, environmental protection, disaster risk reduction, and policy-making based on studies, research, and facts.
The areas of structural transformation include strengthening macroeconomic foundations, enhancing economic growth, and increasing production, productivity, and competitiveness. Other sectors targeted for structural transformation are productive employment, decent labor, sustainable social protection, development of healthy, educated, and skilled human capital, quality physical infrastructure, and intensive inter-agency commitment.
According to the data shared by the NPC, the government has set a target to attain per capita income of USD 2,351 by the fiscal year 2085/86 BS.
Implementation of the goals also include planned, sustainable, and resilient urbanization and settlement development, gender equality, social justice, inclusive and equitable society building, regional and local economic strengthening, and balanced development, along with poverty and inequality reduction.
Other designated implementation goals are effective financial management, capital expenditure capacity building, governance reform, promotion of good governance, biodiversity conservation, climate change mitigation, advancement of the green economy, upgrading from least developed to developing country status, and achieving sustainable development goals. -- RSS
