Pvt sector stresses on energy‚ infrastructure

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    FNCCI KATHMANDU: The private sector has suggested the government to give priority to energy, infrastructure and export sectors. They urged the government to start large energy projects for industrialisation at a pre-budget interaction organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

    Energy is a must for industrialisation, therefore it should be the government’s top priority, said president of Revenue Committee of the umbrella organisation of the private sector Jagdish Rathi.

    “We can build a reservoir-based hydropower of about 500 MW in public-private partnership model,” he said, adding that the government must take the initiative for it. He also urged the government to control electricity leakage as soon as possible. At present, leakage is about 28 per cent and it is too high.

    Private sector entrepreneurs have also called for investment in competitive sectors like agriculture, tourism, cement, road and communication. FNCCI has urged the government to build the mid-hill road, airport in Nijgadh and Kathmandu-Nijgadh fast-track. The new budget must address the issues with high priority, they said.

    FNCCI has also urged the government to identify the export potential of 10 new products in at least 10 new countries. It has asked for two per cent cash incentive and five per cent value added tax exemption in exportable goods.

    Similarly, the association has asked the government to abolish export tax in all exportable items.

    An industry friendly labour policy is a must for development, FNCCI said, demanding compensation for strikes and bandhs by workers or other third parties. It has urged the government to draft new laws on industrial and export sectors.

    FNCCI has demanded the tax limit to be raised to Rs 300,000 for unmarried people and Rs 350,000 for married people. Similarly, it
    has urged the government to abolish excise duty on liquor and tobacco.

    Entrepreneurs have also sought a separate law to promote agriculture sector and its rapid commercialisation. Different laws and incentives are necessary to motivate people to graduate from traditional agriculture to commercialisation, it said.

    Source : The Himalayan Times