Pvt sector seeks ‘implementation framework’ of economic agenda

Kathmandu, November 20

The private sector has urged all political parties to develop implementation guidelines of the economic agenda that they have incorporated in their election manifestos.

Addressing the National Economic Debate organised in the Capital today, Bhawani Rana, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the entire private sector is exuberant that political parties have set ambitious economic and development targets in their poll manifestos. Rana said that political parties have, however, failed to address the implementation aspects of economic agenda highlighted in their manifestos.

“Undoubtedly, political parties have shown keen interest in the development process of the country and poll manifestos are the reflection of political parties’ commitment to economic growth. Political parties should now develop the implementation guidelines of the promises they have made in the poll manifestos and assure private sector that all these commitments would be realised after the elections,” said Rana.

Informing that the private sector is currently worried of being the victim of double taxation system in the new federal system, Rana said that the post-election government should ensure that the businesses will not have to pay taxes to different layers of government in the new system.

CPN-UML Chairman KP Sharma Oli said that development agenda in his party’s manifesto are ambitious, but achievable.

“As Nepal is lagging behind in development, the country should now speed up development processes through the use of technology. It is only through accelerated development process that Nepal can achieve the development and growth targets set by Sustainable Development Goals (SDGs).”

Stating that the Constitution itself has envisioned economic development in public-private partnership model, Oli said that the new government formed after the elections will collaborate with the private sector in bringing large-scale investments.

“It is only through increasing domestic production of goods that Nepal can become a self-sustained economy,” said Oli.

Oli also clarified that businesses will not be levied double taxes under the new federal system.

Acknowledging that political parties have failed to describe the way to achieve development commitments in their poll manifestos, former finance minister Ram Sharan Mahat said that parties should collaborate to turn commitments into reality. “Every political party should now come up with concrete ways to achieve the ambitious economic commitments made in the election manifestos,” said Mahat.

In a bid to achieve the socialism-oriented economy envisioned by the Constitution, former finance minister Krishna Bahadur Mahara said that country’s private sector needs to be strengthened on the basis of fair competition.