The private sector,
today, asked finance minister Shankar Koirala to bring a private sector
friendly fiscal policy by including its suggestions in the budget for next
fiscal year 2013-14.
"The private sector
is expecting the budget for next fiscal year to come on time that will help
boost economic growth," said president of Federation of Nepalese Chambers
of Commerce and Industry Suraj Vaidya.
The delayed budget for
the current fiscal year has hit the economy as the country is projected to
record only 3.56 per cent growth in the current fiscal year 2012-13, against a
fiscal year ago's 4.48 per cent, according to the Central Bureau of Statistics (CBS).
Development spending by
the government has been the lowest and the central bank treasury has Rs 47.20
billion budget surplus in the nine months of the current fiscal year, according
to the central bank data. The low appetite for public spending has also hurt
private sector spending, making the economy vulnerable.
"The umbrella
organisation of the domestic private sector is holding interactions across the
country to get suggestions," he said, asking the minister to include their
recommendations in the next budget to make it private sector and investment
friendly.
Koirala, on the
occasion, assured the private sector representatives, that the government will
bring a private sector friendly budget. "The government is ready to
encourage the private sector," he said, adding that the budget will help
create an investment friendly environment and address the problems of the
private sector.
Likewise,
representatives of the Federation of Nepalese Cottage and Small Industries also
apprised the finance minister of problems they have been facing and asked him
to help promote their products in foreign expos. "We asked the minister to
help us promote products manufactured by small and medium enterprises in the US
and also for a Women Entrepreneurs' Development Fund," said acting president
of the federation Shyam Prasad Giri. 
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