Kathmandu. Senior Vice President of Confederation of Nepalese Industries (CNI) Birendra Raj Pandey said that out of 111 suggestions given by the Confederation in the budget presented by the government, 21 suggestions have been fully incorporated and 43 suggestions have been partially addressed.
Speaking at a budget-a-holistic discourse programme organised by the Economic Media Society Nepal (IMSON), Senior Vice-President Pandey said the proposals brought by the budget in the startup and information technology sector were commendable. Pandey said that the establishment of data center, provision of no income tax for five years and security related arrangements are positive.
Pandey said that the issue of foreign investment has also been taken as an encouraging initiative. He expressed satisfaction that the demand to convert VAT into multi-VAT has been partially addressed and efforts have been made to encourage private sector investment in Chitwan and Mayurdhap.
Pandey expressed concern over the lack of inclusion in the budget for formulating an industrial development strategy, while suggestions related to import of quality goods and services were ignored. He also said that the take-and-pay policy being implemented in the energy sector is challenging and needs to be reviewed.
Pandey pledged to provide necessary constructive support to the government on behalf of the private sector for effective implementation of the budget.
