The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) on
Saturday welcomed the budget of the current fiscal year which lends
priority to reconstruction and rehabilitation in order to invigorate the
economy that was struck with an immense negative impact in the
aftermath of the earthquake.
The FNCCI also welcomed the incorporation of majority of its advices that include effective mobilization of the tax without increment in the tax rate in the current scenario so as to encourage the flailing economy. Finance Minister Dr Ram Sharan Mahat had presented a budget of Rs 819.46 billion for fiscal year 2015/16 with an estimation of six percent economic growth rate.
The budget has given top priority to energy production and its transmission and also construction of physical infrastructure which will contribute in reducing commercial investment, the FNCCI said.It added that the presentation of the Act related to the industrial and commercial sector lifted the morale of the investors.
In a press statement, FNCCI praised the International Conference on Nepal's Reconstruction and the government's commitment to strictly implement the arrangement put in place for purchase of domestic products despite it being 15 per cent more expensive.The Federation also commended the aspects of the budget that call for use of local resources, technology and tools for reconstruction and rehabilitation. It also applauded the commitment for enhancing the professional skill, technological capability and making the public administration more accountable and responsible.
The government's pledge to bring all VDCs within the approach of electricity and the road network within the next three years was also welcomed by the FNCCI. The Federation further praised the government's decision to establish a fund and provide concessional loans for reviving the agricultural and tourism sector.
The Federation has stated that the commitment for road access and electricity to cement industries, easing the environmental impact, private sector's participation in big projects, implementation of the national tourism strategy, development of 10 cities with economic facilities among others could have positive impact on the national economy.
FNCCI has drawn the attention of the government for the implementation of commitments made in the previous budget that are yet to be implemented.It has expressed commitment for private sector's active participation effectively implementing the budget for realization of the goal to achieve six per cent economic growth.
source:republica,18 july 2015
LINK
The FNCCI also welcomed the incorporation of majority of its advices that include effective mobilization of the tax without increment in the tax rate in the current scenario so as to encourage the flailing economy. Finance Minister Dr Ram Sharan Mahat had presented a budget of Rs 819.46 billion for fiscal year 2015/16 with an estimation of six percent economic growth rate.
The budget has given top priority to energy production and its transmission and also construction of physical infrastructure which will contribute in reducing commercial investment, the FNCCI said.It added that the presentation of the Act related to the industrial and commercial sector lifted the morale of the investors.
In a press statement, FNCCI praised the International Conference on Nepal's Reconstruction and the government's commitment to strictly implement the arrangement put in place for purchase of domestic products despite it being 15 per cent more expensive.The Federation also commended the aspects of the budget that call for use of local resources, technology and tools for reconstruction and rehabilitation. It also applauded the commitment for enhancing the professional skill, technological capability and making the public administration more accountable and responsible.
The government's pledge to bring all VDCs within the approach of electricity and the road network within the next three years was also welcomed by the FNCCI. The Federation further praised the government's decision to establish a fund and provide concessional loans for reviving the agricultural and tourism sector.
The Federation has stated that the commitment for road access and electricity to cement industries, easing the environmental impact, private sector's participation in big projects, implementation of the national tourism strategy, development of 10 cities with economic facilities among others could have positive impact on the national economy.
FNCCI has drawn the attention of the government for the implementation of commitments made in the previous budget that are yet to be implemented.It has expressed commitment for private sector's active participation effectively implementing the budget for realization of the goal to achieve six per cent economic growth.
source:republica,18 july 2015
LINK
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