Govt Prepares Legal Framework For Alternative Development Financing

Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has announced that the government is working on introducing a legal mechanism for alternative development financing. Minister Poudel revealed that a new bill is being drafted to explore innovative fiscal resources. 

During a discussion with Finance Ministry officials, he emphasized that relying solely on traditional financing sources—such as revenue, foreign aid, and loans—makes it challenging to meet both the public's development aspirations and the country's fiscal management needs.

“We are preparing a draft for alternative development financing management, which will soon undergo the legislative process,” said Minister Poudel. He believes this new financing mechanism will play a vital role in mobilizing additional fiscal resources and increasing investments.

To achieve economic prosperity, he stressed that substantial investments are necessary, not only in infrastructure but also in human resource development and soft power. The minister also urged political parties, the private sector, and stakeholders to adopt a new approach to drive development and economic growth.