Bill to Raise National Debt passed

The National Assembly passed the Bill to Raise National Debt.

In today’s meeting of the National Assembly, Finance Minister Dr Prakash Sharan Mahat presented a proposal to return the Bill, received from the House of Representatives (HoR) with suggestions, to HoR, the lower house of the Federal Parliament, without making any amendment to it. The proposal was passed by majority.

In course of clause-wise discussion on the Bill, lawmakers had raised questions on the usefulness of such type of debt at a time when percentage of public debt is rising as compared to gross domestic product. The NA will meet next at 1:00 pm on July 17.