Pvt sector expresses doubt over Trade Policy 2015 implementation

KATHMANDU, Sep 1:

Private sector has expressed doubts about implementation of Trade Policy 2015.

Speaking at an interaction organized by Ministry of Commerce and Supplies (MoCS) in Kathmandu on Wednesday, officials of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) fear the policy will gather dust in the ministry cabinet like other policies.

The cabinet had endorsed Trade Policy 2015 a month ago.

"The government has introduced many important policies. Unfortunately, most of them have not been implemented," Pashupati Murarka, president of FNCCI said. "Instead of defining the new policy, government should search for measures to effectively implement the new trade policy."

Murarka also said they were hopeful that the government will implement it as soon as possible. He also said implementation of the new policy would create a favorable environment for private sector.

Speaking at the program, Minister for Commerce and Supplies (MoCS) Sunil Bahadur Thapa assured private sector that the government will implement the new policy. "The new policy is private sector friendly and it has addressed their major demands," he added.

Likewise, Naindra Prasad Upadhaya, secretary of MoCS, said that the policy focuses on increasing domestic production and increase export. "The policy aims to increase production, productivity and foreign investment," Upadhaya said, adding, "The new policy also targets to increase employment opportunities and reduce trade deficit."

According to him, the new trade policy was introduced after previous trade policies failed to reduce trade deficit.

Experts, however, say the new trade policy lacks programs to control import which is increasing with each passing year.

Commenting on this, Secretary Upadhaya said the trade policy will not focus on controlling import as consumers have the right to consume goods produced in any parts of the world.

Source: Republica