Nepal Secures Rs 34 Billion Investment in 200 Industries During First 100 Days of Government

Prime Minister KP Sharma Oli, in a national address on Wednesday, announced that the current government has secured commitments for around Rs 34 billion in investments across 200 industries within its first 100 days. Highlighting signs of economic improvement, the Prime Minister emphasized the government’s efforts to boost the private sector’s confidence and push forward key economic reforms.

A significant achievement has been the formation of a high-level commission to suggest economic reforms, which has energized entrepreneurs. PM Oli also mentioned that Nepal’s Sovereign Credit Rating by an international expert organization is nearing completion, marking a crucial milestone for the country’s financial credibility.

Among other accomplishments, PM Oli highlighted an agreement between Nepal Oil Corporation and Indian Oil Corporation to expand petroleum pipelines from Siliguri, India, to Charali in Jhapa, and from Amalekhgunj to Lothar in Chitwan. This agreement also includes constructing a terminal building to ease petroleum supply and increase storage capacity.

In addition, the Nepal Accreditation Centre has been operationalized to ensure the quality of goods, services, and processes, further enhancing the country’s standards.

The Prime Minister also shared that federal government expenditure had risen to Rs 329 billion as of mid-October, showing an increase compared to the same period last year. Total revenue mobilization reached Rs 248 billion, up by 13.3 percent, reflecting a steady boost in the nation’s financial performance.