Govt plans controlled economy: FNCCI
KATHMANDU:
Private sector has raised serious doubt over government’s intention on open market policy. “It is heading toward controlled economy,” said the umbrella organisation of country’s private sector.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that the Policy also lacked prioritisation of economic agendas. “Weakness in prioritising economic agendas for rapid economic growth is the major weakness of the government policy paper for fiscal year 2011-12, FNCCI said, doubting the government’s intention on open market economy.
“Three pillar economic policy — including cooperative as third economic pillar — has isolated private sector,” said the private sector that has been lobbying to adopt market oriented liberal economy.
However, FNCCI has praised the government for prioritising hydropower and infrastructure projects. “Priority to Mid-hill Highway, Fast-Track Road linking Kathmandu to Tarai, Mid-hill electricity transmission line, reservoir-based hydropower projects, international airport in Neejgadh and new tourism spots development in Muktinath, Lumbini, Barahachhetra and Dhropatanare are positive initiatives of the government,” it said, hailing the projects that are, if implemented in true sense, will boost economic growth.
According to FNCCI, master plan for hydropower development, establishment of hydropower bank, incentives in export, formation of revenue board are also encouraging initiation of the government. However, private sector expressed concern on the silence towards easing current liquidity problem but welcomed the government move to expand limitation in declaring income source from current limit of one million rupees.
“Liquidity situation might ease once people get chance to declare their income and property,” it said, hoping that the government will bring budget 2011-12 on time including suggestions from the private sector. “We hope the new budget will bring programmes to revive sick industrial sector.”
Source: THT
Private sector has raised serious doubt over government’s intention on open market policy. “It is heading toward controlled economy,” said the umbrella organisation of country’s private sector.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that the Policy also lacked prioritisation of economic agendas. “Weakness in prioritising economic agendas for rapid economic growth is the major weakness of the government policy paper for fiscal year 2011-12, FNCCI said, doubting the government’s intention on open market economy.
“Three pillar economic policy — including cooperative as third economic pillar — has isolated private sector,” said the private sector that has been lobbying to adopt market oriented liberal economy.
However, FNCCI has praised the government for prioritising hydropower and infrastructure projects. “Priority to Mid-hill Highway, Fast-Track Road linking Kathmandu to Tarai, Mid-hill electricity transmission line, reservoir-based hydropower projects, international airport in Neejgadh and new tourism spots development in Muktinath, Lumbini, Barahachhetra and Dhropatanare are positive initiatives of the government,” it said, hailing the projects that are, if implemented in true sense, will boost economic growth.
According to FNCCI, master plan for hydropower development, establishment of hydropower bank, incentives in export, formation of revenue board are also encouraging initiation of the government. However, private sector expressed concern on the silence towards easing current liquidity problem but welcomed the government move to expand limitation in declaring income source from current limit of one million rupees.
“Liquidity situation might ease once people get chance to declare their income and property,” it said, hoping that the government will bring budget 2011-12 on time including suggestions from the private sector. “We hope the new budget will bring programmes to revive sick industrial sector.”
Source: THT
