Shankar Pokharel Questions Those Who Opposed Foreign Loans But Now Accept Them

Shankar Pokharel, General Secretary of the Nepal Communist Party (UML), has raised questions about the current government’s double standards regarding foreign loans. The Cabinet had approved a foreign loan amounting to 185 million US dollars on March 6. Pokharel criticized the government for lacking clear policies and priorities when taking on debt and urged transparent explanations for the public. (March 7, Kathmandu)

Pokharel demanded answers from the government for taking large foreign loans after coming to power, questioning why those who previously condemned foreign debt for harming the nation are now accepting it. In a Facebook post on Tuesday, the General Secretary acknowledged that taking foreign loans is both a necessity and a compulsion for sustainable infrastructure development in Nepal. However, he pointed out that those who fiercely opposed loans when in opposition are now taking loans without presenting clear policies and priorities to Parliament.

“Those who yesterday criticized the previous government claiming foreign loans were sinking the country are now the very ones taking large loans without clearly presenting policy programs or priorities in Parliament,” Pokharel wrote. “As this matter becomes public, such questions inevitably arise.”

The Cabinet meeting held on March 6 approved a foreign loan worth approximately 27.51 billion Nepalese rupees, equivalent to 185 million US dollars. Pokharel questioned why those opposing loans while out of power are now accepting them when in government. He asked, “Why oppose yesterday and accept today?” He demanded that the government provide clear and transparent responses to the public regarding the significant foreign borrowing. Rastriya Prajatantra Party parliamentarian Khusbu Oli had also raised questions on this issue during the House of Representatives session.