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Nepal: Private Sector Objects Three–Pillar Economic Policy in Budget |
| Source: |
nepalnews.com |
| Source Date: |
Monday, July 18, 2011 |
| Focus: |
ICT for MDGs
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| Country: |
Nepal |
| Created: |
Jul 18, 2011 |
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Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepali Industries (CNI) on Sunday expressed dissatisfaction over the budget for this fiscal year 2011/12, saying that it is not favourable to the private sector.
FNCCI also slammed the government for trying to control the economy in the name of three-pillar economic policy and mixed economy.
The umbrella organization of the country’s business community further said that controlled economy policy is not favourable for development of economic sector or to achieve the aim of brining about an economic transformation of the country as this policy has already been proven unsuccessful worldwide.
It also said that the current budget would push the country towards disaster, adding that government’s attempt to introduce three-pillar economic policy would not work.
The acting president of FNCCI, Bhaskar Raj Karnikar said that for the economic transformation of the country, there should be open economic policy.
Similarly, CNI also said that the government’s emphasis on the cooperatives under the three-pillar economic model has bypassed the role of private sectors.
CNI also criticized the three-pillar economic policy and mixed economy. The government has devalued the role of private sector by giving special emphasis to cooperatives in the new budget, CNI added.
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Nepal: Private Sector Objects Three–Pillar Economic Policy in Budget Federation of Nepalese Chamber of Commerce and Industry FNCCI and Confederation of Nepali Industries CNI on Sunday expressed dissatisfaction over the budget for this fiscal year 2011/12 saying that it is not favourable to the private sector
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