FNCCI President Dhakal advocates private sector inclusion in budget planning

KATHMANDU: Chandra Dhakal, the President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), has called for greater inclusion of the private sector in the upcoming budget planning process.

Speaking at a pre-budget discussion organized by the Society of Economic Journalists Nepal (SEJON) in the presence of Finance Minister Barshman Pun on Thursday, Dhakal emphasized the importance of aligning the budget with the needs and expectations of the private sector.

He stressed the need for the budget to fulfill the commitments made during investment conferences, thereby fostering a conducive environment for economic growth.

Dhakal highlighted the challenges faced by various sectors, attributing the slowdown to low demand and supply in the market. To address these issues, he proposed aligning the budget with the monetary policy and implementing special incentives for industries that generate significant employment opportunities.

Specifically, he suggested providing special facilities to industries that create at least 100 jobs, aiming to stimulate job creation and economic activity.

Expressing concern over the negative impact of government agencies on the private sector, Dhakal urged the authorities to refrain from hindering private sector activities in the name of demonstrating their performance.

He called for measures in the new budget to mitigate such obstacles and create a more supportive environment for businesses to thrive.

Overall, Dhakal’s recommendations underscored the importance of collaborative efforts between the government and the private sector to drive economic recovery and sustainable development.

As Nepal prepares for its upcoming budget, incorporating the perspectives and needs of the private sector will be crucial in formulating policies and initiatives that promote growth and prosperity.