NCC cavils at ‘bias’ against pvt sector

Kathmandu, September 24:

Nepal Chambers of Commerce and Industry (NCC) today said it was hoping that the budget statement 2065-66 would come as a shot in the arm for the private sector and added that it was a disappointment instead.

Issuing a press statement, NCC said that although the budget had talked about the Public Private Partnership (PPP) the private sector was put far behind the government sector and cooperatives.

Though there was a need for higher capital investment in this stage of the ‘decade of economic revolution’ investment had been pegged at a higher notch for the general sector.

“The budget is peppered with ambitious programs but there are still many more points which are still unclear. It has failed to excite the business sector. Also, there are many rules and regulations which are still not clear,” said NCC.

The total revenue collection is targeted at Rs 141 billion while more than Rs 236 billion has been fixed as foreign aid. That is 30 per cent more than what it was in previous years.

NCC also voiced disappointment at the budget not allotting for promotional programmes to overcome business losses and added that promotional programmes regarding exports had also been neglected.