Saturday, January 25, 2014

Incumbent government focused on economic agenda



The incumbent government was, though formed to manage political transition, it has also focused on economic agenda, according to finance minister Shankar Prasad Koirala.
Addressing a meeting of newly elected members of Morang Trade Association here in Biratnagar today, he said that the new government that will be formed in a couple of weeks cannot backtrack from the economic agenda.
Many proposed Acts including Industrial Act and Special Economic Zone (SEZ) Act – that are related to business and economic sectors – have been gathering dust in the cabinet. "This government is handing over the power to the elected government and that new government will take over the responsibility of approving them," he said, adding that the short-term and limited mandate of the incumbent government halted from bringing these Acts that could have help boost private sector's confidence.
"The incumbent government also has no legal teeth to solve the issue of mismatch," he added. "Though the government had brought an ordinance for six months to solve the issue, the private sector failed to take advantage of the deadline and the ordinance has expired leaving no room for the government to do anything."
The government is private sector friendly but the private sector also has to do business morally, the minister advised.
The newly elected president of the association Shiva Shankar Agrawal, on the occasion, urged the government to help Biratnagar to help gain its past glory as the industrial city of the east.

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