Kathmandu, July 15:

Confederation of Nepalese Industries (CNI) has welcomed the budget for the fiscal year 2007-08 presented by the finance minister Dr Ram Sharan Mahat in the Interim Legislature Parliament on Thursday.

Speaking at an interaction organised by the CNI in the capital today, Binod Chaudhary, CNI president, hailed the budget. “CNI has taken this budget as a common economic agenda of eight political parties,” he said adding that CNI expects that the eight political parties will respect and implement this document in the days ahead.

Formation of Industrial Security Force, violence-free high-ways, abolition of syndicate are some of the best policies that the budget has addressed, CNI said. “The political parties sho-uld also work united towards making the industrial units politics-and strike-free zones.”

Chaudhari also thanked the government for incorporating CNI’s suggestions in the budget. “Investment Board, Special Economic Zone (SEZ), simplification of exports, private sector’s involvement in infrastructure development, enough and smooth supply of electricity for the industries, investment-friendly environment and policy to invest in other countries are some of CNI’s suggestions that this year’s budget has incorporated. We thank the government for this,” he said.

“In the present context of globalisation it is necessary to let the investors invest where they feel safe. However, the laws restricting to the new policy should be changed within the three months,” he opined.

“We need seven to eight billion rupees — for the development of infrastructure for 5000MW electricity generation within five years that the budget has envisioned — which is impossible without the foreign investment,” Chaudhary said adding that the government must prepare a concrete plan to attract this huge investment.

“Though Energy Bond is a nice concept, going by the past precedents its not impossible that these mega projects may remain a mega dream,” he said.

The budget has encouraged the commercialisation of agricultural sector and planned a new tourism policy, which are welcome steps, according to the CNI. “However, the budget has no programme for restructuring and modernisation of the national flag-carrier, Nepal Airlines Corp — the backbone of the tourism industry.”

Jagdish Agrawal, vice-president of CNI also highlighted so-me of the aspects of the budget on the occasion.

NPIA hails budget:

KATHMANDU: Nepal Pashmina Industries Association (NPIA) has issuing a press release here hailed the budget 2007-08. “The budget is comparatively positive,” states the release welcoming the government’s policy to promote exports. NPIA also thanks the government for incorporating its suggestion of trade mark labeling. Plans to set up Industrial Security Force, Investment Board, Bonded Ware House are some of the positive aspects of the budget, according to the NPIA. — HNS