Koshi Province Economy in Crisis Due to Unfunded Multi-Year Contracts, Finance Minister Warns

Biratnagar. The financial balance of the Koshi Province government has been severely disrupted by billions in liabilities stemming from arbitrary multi-year contracts awarded by previous administrations without securing the necessary resources. The Koshi Province currently faces outstanding liabilities for multi-year projects amounting to NPR 20.6115 billion, an amount exceeding the province's actual annual capital budget.During discussions regarding the mid-year budget review for the current fiscal year and preparations for the next fiscal year, Minister for Economic Affairs and Planning, Bidur Kumar Lingthep, stated that the province's financial situation is on the verge of crisis.