Finance Minister, private sector discuss upcoming budget

KATHMANDU: Finance Minister Janardan Sharma called on the representatives of the Federation of Nepali Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) for preparation of budget for the coming fiscal year 2022/23. At the request of the Ministry, FNCCI President Shekhar Golchha and FNCCI Vice President Ram Chandra Sanghai, CNI President Vishnu Kumar Agarwal, CNI Vice President Krishna Prasad Adhikari and NCC Senior Vice President Kamalesh Kumar Agrawal held discussions with the minister at the Finance Ministry, on Thursday. During the discussion, Minister Sharma said the government was moving towards fulfilling its responsibility by trusting the private sector. He informed the budget was being prepared in consultation with Prime Minister Sher Bahadur Deuba and preparations were being made to make it successful. The finance minister said there was no need to worry as the process of preparing the new budget has been undertaken after consulting with the Prime Minister. Minister Sharma said the upcoming budget will address the plights of businesspersons, as well as people from remote districts. He said the budget will be prepared by taking suggestions from people from different walks of life including those from remote Karnali to Jhapa. Although the government has been trying to regulate the balance of payments, trade deficit, liquidity crunch and reduction in remittances. Stating that politicians, employees, businesspersons and general consumers should not look after their own interests only and also think of the country's interest, Minister Sharma urged the private sector organisations to put their interests aside and come up with something that will benefit the country. He expressed his commitment to address the issues of entrepreneurs. During the discussion, FNCCI President Golchha presented short-term, medium-term and long-term suggestions. He said, "The problems we are facing now is beyond the capacity of the government. That is why the morale of the private sector has dropped.” Similarly, CNI President Agarwal suggested the budget should be prepared with the objective of achieving double-digit economic growth rate. He stated the halt of Power Purchase Agreement (PPA) was not right when the private sector has 50% contribution to the energy sector. At the discussion, NCC Senior Vice President Kamalesh Kumar Agrawal suggested creating a private sector friendly environment.