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Finance Committee issues 8-point directive to government: From Bhote Koshi flood victims to climate finance
The Finance Committee of the House of Representatives has issued an 8-point directive to the government. The directives prioritize relief, rehabilitation, and concessional loans for Bhote Koshi flood-affected entrepreneurs and businesses, as well as climate finance and a review of infrastructure standards.
September 18, 20262 min read3 views
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Kathmandu. The Finance Committee of the House of Representatives has issued an 8-point directive to the government. The directive was issued at a meeting of the committee held today.
Based on discussions in various subcommittee meetings, suggestions received from experts and stakeholders, and field studies, the committee issued the following directives to the concerned agencies.
Directives
- Directing the Ministry of Finance, the Ministry of Energy, Water Resources and Irrigation, and the Ministry of Industry, Commerce and Supplies to promptly implement relief and rehabilitation programs for affected entrepreneurs and businesses, as the flood in the Bhote Koshi in Rasuwa caused widespread damage to industrial and commercial establishments in the riverbank areas.
- Directing the Office of the Prime Minister and Council of Ministers, the Ministry of Physical Infrastructure and Transport, and the National Planning Commission to review the standards for urbanization and ongoing development projects in riverbank areas, as the flood has severely affected settlements along the riverbanks.
- Directing the Ministry of Home Affairs and the Ministry of Foreign Affairs to strengthen the existing disaster early warning system and develop and expand a system for cross-border information exchange on early warnings.
- Directing the Ministry of Foreign Affairs to effectively raise Nepal's climate change issues on international platforms based on facts and arguments, and to make all kinds of diplomatic efforts to establish climate finance as a sustainable and reliable source for the country's development.
- Directing the Ministry of Physical Infrastructure and Transport to update infrastructure standards based on future climate projections and to follow climate-resilient project design technologies by conducting climate risk analysis in the preparation of large infrastructure projects.
- Directing the Ministry of Finance to extend the installment period of bank loans and waive interest for that period for flood-affected businesses, arrange concessional loans for the construction of housing projects and other structures, and expedite the remaining payments to construction entrepreneurs.
- Directing the Ministry of Finance to facilitate the payment of insurance claims for physical structures, vehicles, businesses including drivers, and projects damaged by the Bhote Koshi flood.
- Directing the Ministry of Finance to facilitate employment and income generation, including special economic packages with special psychosocial counseling, for the families and guardians of citizens from across the country who went missing in the flood area.