Kathmandu, May 22: Vice Chairman of the National Planning Commission, Professor Dr. Pushparaj Kandel, said the government was for the reform in economic development, creating an optimistic drive to the capital budget. At a discussion organized by Nepal Economic Association here Tuesday (May 21), Vice Chairman Dr. Kandel, however, pointed out the need for government’s capacity to spend capital budget.
The policy should be convincing for the development partners, he added. He informed that the 15th periodic plan has proposed 50 percent of the contribution from private sectors for the economic development of the country. On the occasion, former finance minister Shankar Koirala said it was positive that political circle was united in terms of bringing in investment, while foreign investment is protested at times. “In the recent time, government’s activities are positive to attract foreign investment,” he lauded, adding that introduction of one-door policy is also a good initiative. FNCCI’s former President Chandiraj Dhakal viewed that although a favorable environment was being created by the government for the private sector, there were still many challenges.
He urged the government to enable a favorable environment for the private sector and pressed for making laws out of the bill relating to timely and effective implementation. Similarly, Nepal Economic Association member Prof Dr. Shivaraj Adhikari and Secretary Gopal Prasad Tiwari, presenting working papers, spoke of the need for the upcoming budget to underscore commercialization of the agriculture sector.
They drew the attention of the government towards the dismal result of the Investment Summit, saying that although there were promises for bringing in foreign investments, no impetus was given to the implementation of the mega projects. Likewise, economist Dr. Ramesh Poudel argued that foreign investment was very important as it would bring in skills and knowledge besides skills and craft.
He, however, asserted that ‘foreign investment’ should not be viewed as an ‘engine’ for development. Representatives from the Ministry of Finance Dr. Dilliraj Aryal said, “We all should mull on the mobilization of the local resources for the development works.” National Natural Resources and Fiscal Commission Secretary Dr. Baikuntha Aryal pointed out the need for cooperation with the private sector for development.
Nepal Economic Association President Dr. Bhawani Dhungana admitted that deliberation on pre-budget had been held late but all the suggestions furnished in the program would be presented to the Minister for Finance Dr Yubaraj Khatiwada on Wednesday. RSS
