The private sector has commented that some of the matters incorporated in the government policy and programmes for the upcoming fiscal year are positive but not complete.
Though the government had come up with some plans to take ahead the national economy in the emergence of critical situation due to coronavirus pandemic it was not as anticipated, the private sector said.
In a video conferencing discussion organized here today by Society of Economic Journalists Nepal (SEJON) on the government’s policy and programmes for FY 2020/21, representatives from the private sector said the upcoming budget should meticulously address the battered economy which is however not enshrined in the policy document.
The government policy and programme has positively put forth the issue of investment increment in health sector and employment generation.
On the occasion, senior vice-president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha said the policy and programmes did not bring measures in a way to immediately address the effect of coronavirus on national economy. The government has failed to introduce relief package to reform the ailing economy in the emergence of pandemic, he added.
Liquidity management is the main challenge of the hour, he said, adding the government was silent on taking public borrowing for revitalizing economy as well as on the matter of refinancing, interest deduction and remuneration management of labourers.
Also speaking on the occasion, senior vice-chair Nepal Chamber of Commerce Rajendra Malla complained that the government was not clear on bringing relief package to the private sector. Though the government policy and programmes have not addressed their demands, he said the upcoming budget however is expected to address them.
The government needs to increase domestic production, drop public expenses, reduce remuneration of chief executive officers and waive interest of the loan taken by farmers within six months.
Likewise, senior vice-chair of Confederation of Nepal Industries Bishnu Agrawal expected that the upcoming budget would address the issues which are not reflected in the government policy and programmes. He suggested the government to cut off unnecessary expenses and increase capital spending.
Acting Chairperson of Federation of Nepal Small and Cottage Industry Umesh Prasad Singh commented that the government policy and programmes were not centralized in addressing the pertinent problems.
Source: National News Agency