Surkhet, August 16
In a bid to garner foreign investment for infrastructure and social sector development, Karnali provincial government has made a proposal seeking support from the federal government in carrying out a coordinating role.
A couple of weeks ago, the provincial government had sent a proposal with a decision of the Council of Ministers seeking right to make negotiation and agreements with donors to raise foreign aid and investment in the development areas based on the province needs.
Minister for Financial Affairs and Planning Prakash Jwala had presented the proposal before the Prime Minister and the Finance Minister in Kathmandu. The proposal has put the federal government’s role merely as a witness of the signing of memorandums of understanding for partnership.
The proposal also has demanded income tax waiver to domestic and foreign investors for 10 years.
The provincial government has explored the opportunity to seek foreign funding keeping in mind the shortage of budget allocated by the federal, provincial and local governments for infrastructure development, said Minister Jwala.
Likewise, the provincial government has already sent an official proposal to the federal government to increase grants and aids for executing Karnali Infrastructure Development Programme and multi-year plans, he added.
The provincial government has taken the initiative to tap resources to materialise its slogan ‘Prosperous Karnali, Happy Karnali People’ which was presented alongside the budget and programme for this year.
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