Country might face severe financial crisis: Vaidya

KATHMANDU, Nov 24: 

Business community leaders have warned that the country could face serious financial crisis due to lack of full-fledged budget for the current fiscal year. 

Suraj Vaidya, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that the country has fallen into a financial crisis due to political parties´ inability to forge consensus to bring a full fledged budget. 

A press release issued on Friday said Vaidya expressed concern over the country´s financial situation while addressing the annual meeting of the Nawalparasi Chambers of Commerce and Industry (NCCI). "We urge all the poltical parties to come togthere and bring a full fledged budget for this fiscal year 2012/13 in order to save country from a severe financial crisis," said Vaidya. 

Highlighting the critical situation in the country, Vaidya said there should be a fix date to bring a fiscal budget each year. "Our repeated request to bring a full fledged budget fell on deaf ears," Vaidya said. "Political parties should be responsible and give a way out to the country at the earliest." 

Additionally, entrepreneurs from the districts also expressed their concern over government´s revenue collection policy.

Source: Republica