Uncertain Course

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Dec. 6, 2010, 5:45 p.m. Published in Magazine Issue: Vol.: 05 No.-16 Mar. 02-2012 (Falgun 19,2068)<br>

The drama in the parliament on November 19 when Finance Minister was manhandled by some Maoist lawmakers ended all hopes of budget through parliament. Instead it forced the government’s hand and the country was subjected to a prolonged period of economicuncertainty. Already the government of the day is a caretaker one. And now it has brought a budget through ordinance. It is anybody’s guess how much confidence it can generate among investors, or for that matter, even the ordinary businessmen.  The worst victim, as we have repeatedly been pointing out, will be the development – and, along with it, the country’s efforts towards alleviating poverty. In an ominous turn of event last week, major donors came out with a joint statement not only ruing the absence of ‘development leadership,’ but also warning that the uncertainty could limit future aid to Nepal. Their warning comes in the wake of official revelation that till the completion of four months of this fiscal year, they have spent only Rs 6 billion – of the slated Rs 129 billion – on development. Based on the gravity of the matter, this week, we, once again, decided to look at this sorry state of affairs in our cover story.


 

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