KATHMANDU: Finance Minister Dr Ram Sharan Mahat has said external dependency on country’s economy was gradually decreasing.
Addressing an international conference on ‘Public Sector Financial Management’ that began in the capital from Saturday, the Finance Minister said 15 years old economic data showed that foreign assistance that used to make up one-third of country’s annual budget has gone down by fifty per cent. The conference is jointly organised by Institute of Chartered Accountants Nepal, the World Bank and Confederation of Asia Pacific Accountants.
He added that transparency and accountability was being maintained in country’s financial sector and atmosphere was being created to carryout development endeavours through internal sources.
Stating that conflict and political instability were hindrances to development, the Finance Minister said Nepal gaining front status in the human development index in the South Asia in terms of life expectancy and reduction on child mortality was enough to say that it was heading towards development.
Auditor General Bhanu Prasad Acharya said public finance management was essential to sustainable economic development which was an assisting tool for having effective service delivery and reducing poverty. He pledged the best to press-up government and non-government bodies to promote accountability and transparency in their activities.
Former Finance Secretary Rameshwor Khanal said determination of priorities of development, organisational reform and timely announcement of budget should be the focus of Nepal.
Institute President Narendra Bhattarai said the objective of holding the conference was to utilise opportunities of public finance management, tackle challenges existing in this sector and exchanges mutual experiences.
Representatives from Asia Pacific regions including Nepal are taking part in the two-day conference. RSS
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