Kathmandu. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Bhagirath Sapkota has said the role of the private sector is important for the development of Nepal’s economy.
Speaking at the Budget a Holistic Discourse programme organised by the Economic Media Society Nepal (IMSON) here today, Chairman Sapkota said nepal’s economy could move forward effectively if necessary areas of economic reform were studied in depth. He said that commercialization of agriculture sector is very necessary to achieve 6 percent economic growth rate in the current economy of Nepal. Stressing that the Agriculture Authority should be established with 50 per cent ownership of the private sector, he said, “We should think that the existing structure can commercialise it.” ’
Similarly, sapkota said that there is a need to improve the infrastructure of tourism and aviation sector and problems are being created in hydropower and energy sectors due to the nea’s focus on profitability. He said that other authorities should also adopt the role of an institution like The Rastra Bank.
Sapkot said there is a need for tax reforms in the information technology sector as well. He stressed the need to take measures to speed up the small, domestic and medium enterprises. “6 per cent economic growth is possible if the overall economy can move forward in a new way,” he said, adding that although the current budget is seen as a positive step, some reforms are still needed. ’
