The Confederation of Nepalese Industries (CNI) has asked the government to make sure that the forthcoming budget would create an environment for retaining business setting a new trend for future.
Presenting the recommendations in a pre-budget discussion programme organized by CNI at Ministry of Finance (MoF), Binod Kumar Chaudhary, president of CNI stressed the need for a ‘critical departure’ in the Nepali economy, overhauling conservative and backward looking attitudes.
“The time has come to think seriously about implementing the commitments made,” Chaudhary said.
A environment is needed for retaining business, which the upcoming budget for fiscal year 2007-08 can provide. Despite many challenges and fiscal constraints, the budget has to be path breaking, which can set the trend for the future, reads the CNI’s recommendations for the budget.
Due to uncertainties and ongoing upheavals at the political sphere, Chaudhary cautioned that the Nepali economy is once again may head downhill. The recent political chaos and deteriorating law and order situation is most likely to derail the overall system, he warned.
Responding to queries and recommendations, finance minister Dr Ram Sharan Mahat said that the forthcoming budget would focus on increasing public investment on infrastructure development. He also asked the private sector to think and act accordingly to move forward and take the country forward.
Dr Mahat further suggested introspection for the private sector and pointed out the need for enhancing entrepreneurial skills as well as innovativeness.
He also assured that the government would try its best to create a friendly atmosphere for doing business in Nepal through right policy measures.
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