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Finance minister says Nepal's coffers 'almost empty'


Finance minister says Nepal's coffers 'almost empty'

Kathmandu (Nepal), Mar 31 (ANI): Nepal's coffers are almost empty; Finance Minister Yubaraj Khatiwada told the parliament on Friday. Khatiwada made the remarks while presenting a white paper in the parliament.

He said Nepal's economy was in a dismal state. Khatiwada, former governor of the Central Bank of Nepal, also admitted that the situation in Nepal may not be attractive enough for foreign investors.

Furthermore, Khatiwada stated that the current crunch upon the government is the result of its investment in public enterprises that is yet to pay them for the management of the employees' salaries and operation of the retirement fund. Nepal will bring in its new budget after three months and poses a tough challenge for the newly-elected Communist Party of Nepal (Unified Marxist-Leninist) (CPN-UML) government.

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