Mixed reaction from private sector

- Post Report, Kathmandu
It is very good budget but implementation remains doubtful — Suraj VaidyaBudget is too big. We have a bad track record when it comes to capital spending — Hari Bhakta Sharma

May 29, 2016-The private sector has given mixed reaction to budget tabled at Parliament on Saturday. 

According to representatives of the private sector, the new budget has rightly put emphasis on infrastructure and agriculture and is overall a good budget. However, they doubted that it could be fully implemented given the bad track record of government where it has failed to implement plans announced through budget. 

“It is very good budget,” said Suraj Vaidya, president of SAARC Chamber of Commerce and Industry. “But the implementation remains doubtful.” Pashupati Murarka, president of the Federation of Nepalese Chambers of Commerce and Industry, also welcomed the budget, saying the private sector is encouraged to see “the government’s will power to develop infrastructure”. “But effective implementation is the key,” said Murarka. 

Hari Bhakta Sharma, chairman of Confederation of Nepalese Industries, however, took exception to the size of the budget, saying it is too big and might bring inflationary pressure. “We have a bad track record when it comes to capital expenditure,” said Sharma. “But, recurrent expenditure will take place anyway. This will create inflationary pressure.”

Published: 29-05-2016 08:33

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