Kathmandu: Nepal facing problems on the economic front. The foreign exchange crisis and higher prices of petroleum products globally have forced the government to cut spending. The Nepal government has cut the fuel allowance of its ministries and state-owned enterprises by 20 per cent.
As per the officials of the Finance Ministry of Nepal, this decision was taken in the cabinet meeting held on 13 April. He said that this step has been taken in view of increasing trade deficit, reduction in remittances by overseas citizens and increasing pressure on foreign exchange reserves. The ministry said in a statement that various ministries, agencies and public and state-owned enterprises will have to cut the fuel budget by 20 per cent.
