CNI says disappointed with budget
KATHMANDU:
Confederation of Nepali Industries (CNI) said Sunday it was disappointed with the budget for fiscal year 2011/12, as it made no attempt to promote the private sector of the country.
Issuing a press release, CNI raised serious concern on the inclusion of cooperatives as one of the three pillars of national economy in the country´s economic policy.
“The recognition of cooperatives as one of the three pillars of economy undermines the role of private sector. The budget has no concrete measures to resolve problems facing the economy,” the release added.
The CNI also slammed the government for not incorporating provisions included in the Industrial Policy in the fiscal budget.
“Though the budget has provisions aimed at creating environment conducive for industrial sector, expanding revenue and promoting exports, it doesn´t have anything for the welfare of the business community,” said the press release.
It also came down heavily on the government for not incorporating suggestions of the private sector made during pre-budget discussions in the budget.
CNI, however, hailed timely announcement of the budget after many years.
Source: Republica
Confederation of Nepali Industries (CNI) said Sunday it was disappointed with the budget for fiscal year 2011/12, as it made no attempt to promote the private sector of the country.
Issuing a press release, CNI raised serious concern on the inclusion of cooperatives as one of the three pillars of national economy in the country´s economic policy.
“The recognition of cooperatives as one of the three pillars of economy undermines the role of private sector. The budget has no concrete measures to resolve problems facing the economy,” the release added.
The CNI also slammed the government for not incorporating provisions included in the Industrial Policy in the fiscal budget.
“Though the budget has provisions aimed at creating environment conducive for industrial sector, expanding revenue and promoting exports, it doesn´t have anything for the welfare of the business community,” said the press release.
It also came down heavily on the government for not incorporating suggestions of the private sector made during pre-budget discussions in the budget.
CNI, however, hailed timely announcement of the budget after many years.
Source: Republica
