Private sector has raised serious
doubt over government's intention on open market policy. "It is heading toward
controlled economy," said the umbrella organisation of country's private
sector. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said
that the Policy also lacked prioritisation of economic agendas. "Weakness in
prioritising economic agendas for rapid economic growth is the major weakness
of the government policy paper for fiscal year 2011-12, FNCCI said, doubting
the government's intention on open market economy.
"Three pillar economic policy ¿ including
cooperative as third economic pillar ¿ has isolated private sector," said the
private sector that has been lobbying to adopt market oriented liberal economy.
However, FNCCI has praised the government for prioritising hydropower and
infrastructure projects. "Priority to Mid-hill Highway, Fast-Track Road linking
Kathmandu to Tarai, Mid-hill electricity transmission line, reservoir-based
hydropower projects, international airport in Neejgadh and new tourism spots
development in Muktinath, Lumbini, Barahachhetra and Dhropatanare are positive
initiatives of the government," it said, hailing the projects that are, if
implemented in true sense, will boost economic growth.
According to FNCCI, master plan
for hydropower development, establishment of hydropower bank, incentives in
export, formation of revenue board are also encouraging initiation of the
government. However, private sector expressed concern on the silence towards
easing current liquidity problem but welcomed the government move to expand limitation
in declaring income source from current limit of one million rupees. "Liquidity
situation might ease once people get chance to declare their income and
property," it said, hoping that the government will bring budget 2011-12 on
time including suggestions from the private sector. "We hope the new budget
will bring programmes to revive sick industrial sector."