In a review meeting of development related problem resolving committee headed by the finance minister he urged his subordinates to abandon the conventional approach to spend capital expenditure.

He directed the project managers of the national pride project to press on the necessary process for contracting and construction.

''Recovering the dues and reducing the arrears should be of the utmost priority,'' minister Koirala said.

In the meeting, Governor of the Central Bank, Nepal Rastra Bank, Dr. Yubaraj Khatiwada pointed out the necessity of the effective regulation of the cooperatives.

As the huge sum of money is channelled towards the deprived sector, to secure such funds is quite obligatory, he said.

He also urged the government owned banks to decentralised the power for expanding financial literacy.

Finance Secretary Shanta Raj Subedi underscored the new trend of spending larger chunk of capital expenditure for the purpose of purchasing land and vehicles as a 'new hurdle' to development.

© Corporate News Syndicate