FNCCI asks govt to focus on hydrpower, job creation

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    KATHMNANDU, June 3 :

    budgetPrivate sector has suggested to the government to adopt hydropower, employment generation, and programs to achieve higher economic growth as the guiding principles in the upcoming budget.

    Presenting the suggestions of the Federation of Nepalese Chambers of Industry (FNCCI) for the upcoming budget before the officials of the finance ministry on Tuesday, Dinesh Shrestha, vice president of the federation, also requested the government to focus on development of infrastructures, creation of investment friendly environment and balanced distribution of development projects. 

    The Ministry of Finance (MoF) is collecting inputs for the upcoming budget from different sectors.

    The apex body of Nepali private sector has also suggested to the government to work for policy stability and harmonization of laws based on liberal economic policy to ensure that economic activities will not be discouraged by policy changes. 

    Frequent changes in policy with the change in government have affected Nepali economy dearly, lowering confidence of the private sector. Fearing policy inconsistency and policy uncertainty, private sector is hesitating to make fresh investment. 

    FNCCI has also called upon the political parties to prepare minimum economic agenda so as to avoid policy inconsistency. 

    Before the Constituent Assembly (CA) election in November last year, FNCCI had asked political parties to agree on a common economic agenda to ensure policy consistency regardless of which party is at the helm of the government.

    The private sector has also called upon the political parties to implement their economic agendas floated during the CA election last year. 

    Business leaders are awaiting enactment of 16 new laws and amendment to other existing laws related to the economic sector. They say these laws are key to creating investment friendly environment in the country.

    FNCCI has also proposed to the government to increases incentives on exports. It has asked the officials to come up with programs aimed at export promotion.

    The government has started preparation for the upcoming budget. The budget session of the parliament has already begun. But discussion on budget programs has been affected as the opposition parties are obstructing the house to protest budget transfer at the eleventh hour by the government.

    Source : Republica