KATHMANDU, MAY 25

The representatives of the private sector have largely welcomed the government's policies and programmes for the next fiscal year, which was presented by President Bidhya Devi Bhandari in the Parliament on Tuesday.

For the upcoming fiscal year, the government has announced plans to spur economic growth, strengthen federalism, pursue economic diplomacy, and expand the reach of high-speed internet across the country. It may be noted that the government has prioritised its focus on developing the country's agriculture, industrial, and tourism sectors in the policies and programmes for the fiscal year 2022-23.

According to the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) President Shekhar Golchha, the policies and programmes for the fiscal year 2022-23 seem balanced.

'The policies and programmes for the next fiscal indicate that the suggestions given by the private sector to the government for further expansion of development activities will be included in the budget,' Golchha said.

Stating that the government has also shown interest in promoting the private sector along with infrastructure and agriculture, Golchha said that this will help facilitate the expansion of entrepreneurship and the industrial sector.

Similarly, Nepal Banking Association's Executive Director Anil Kumar Upadhyaya said that the policies and programmes introduced by the government seem beneficial for the country. He said that the government's plans to increase remittance inflow, encourage the private sector, among other decisions, look promising for the country's economic development.

Meanwhile, Federation of Nepali Cottage and Small Industries (FNCSI) has termed policies and programmes presented by the government with the aim of building a strong economy by increasing productivity of agriculture, industry and service sectors 'a positive step'.

Issuing a statement today, the FNCSI has said that the policies and programmes also included suggestions given by the private sector.

'The government's decision to formulate plans and implement them for entrepreneurship development, financial access, product marketing and export facilitation packages for small, cottage, and medium enterprises, increasing the share of indigenous goods in the procurement of public bodies, empowering single point service centres and making them technology-based are positive steps,' the statement read.

Likewise, the Non-Nepali Residential Association (NRNA) has also expressed satisfaction over the policies and programmes introduced by the government on Tuesday, adding that the issues raised by the association have also been included. Earlier, the NRNA had submitted an eight-point suggestion to the Prime Minister's Office regarding investment, foreign employment, citizenship for non-resident Nepalis, and infrastructure development, among others.

The association has welcomed the government's decisions to expedite the process for passage of the Citizenship Bill in the Parliament and implementation of other suggestions given by the NRNA.

'If these policies and programmes are implemented, we hope and believe that the demands of the NRNA will be fulfilled. We would also like to reiterate that the non-resident Nepali community is always ready to work hand in hand with the Nepal government for the benefit of Nepal and Nepalis,' the NRNA stated.

Furthermore, Nepal Tourism Board (NTB) Director Hikmat Singh shared that he is hopeful that the steps taken by the government will help the country on its path to recovery in the post-pandemic era.

Stating that the government's plans to mobilise the country's diplomats to expand trade, promote tourism, and attract foreign investment are positive steps for economic recovery, Singh added that the government should include additional packages for the tourism sector, which was heavily affected by the pandemic.

'Nepal's participation in South Asia's Travel and Tourism Exchange (SATTE) and travel marts have been very fruitful. With the country's tourism sector showing good signs of post-pandemic recovery despite little to no tourists arriving from China, the government should now focus on promoting Nepal's tourism in South India and other countries, as well as encourage investment in the sector,' Singh said.

A version of this article appears in the print on May 26, 2022, of The Himalayan Times