Private sector welcomes new budget, calls for effective implementation

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has stated that the budget for the upcoming fiscal year 2024/25 addresses the concerns of the private sector.

FNCCI President Chandra Prasad Dhakal expressed that the budget has taken into account the private sector in all aspects. "New phases of economic reform programmes have been included. We can say this institutionally after the release of the Economic Bill. The agriculture, tourism, energy, startup, and IT sectors have been prioritised. This move can be viewed positively," added Dhakal.

Similarly, Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal, described the budget as 'balanced' and stated that it does not exert any pressure on the private sector.

However, Rajendra Malla, former President of the Nepal Chamber of Commerce, suggested that the budget needs further study, noting that some issues have been presented in a confusing manner.

Mohan Katuwal, Vice-President of the Federation of Nepal Cottage and Small Industries, said the budget should be received positively, emphasising that implementation is of utmost importance.

He added that the size of the budget is somewhat large, given that more than half of the businesses are currently not operational.

Industrialist Rita Awal commended the budget, stating that it prioritises women's entrepreneurship and argued for the assurance of its implementation.

(With inputs from RSS)