Kathmandu. The government’s policies and programs for the upcoming fiscal year 2082/083 have encouraged the private sector. The policies and programs presented by President Ram Chandra Poudel last Friday have created an atmosphere of enthusiasm in the private sector.
The government’s policies and programs have given top priority to economic reform, infrastructure development, and employment creation. Similarly, the government has set a goal to create an investment-friendly environment to encourage the private sector. The government has adopted a strategy to attract large investments in the energy, tourism, and information technology sectors and to broaden the scope.
Businessmen say that the government has come up with policies and programs to boost the morale of the private sector and solve the problems seen in the current economy. Deepak Kumar Malhotra, Senior Vice President of Nepal Chamber of Commerce, said that the current policies and programs are better than the previous ones and the government has shown initiative in solving the current problems. He said that since the current government has introduced policies and programs in a sensitive manner, there is no need to doubt their implementation. He emphasized that since the current policies and programs cover most of the problems, they should be included in the budget and attention should be paid to their implementation.
He said, “We studied this year’s policies and programs as a whole, the policies and programs are short and good. In previous years, such policies and programs have also come up, but they are long. This time, it is good to look deeper. If we move forward by including all those things in the budget, it seems that the government has taken the initiative to solve the problems that exist this time. The government has shown seriousness, I don’t think there should be any doubt. It should now be included in the budget and implemented. The current policies and programs have covered most of the problems. The biggest problems at present are related to cooperatives and real estate. Since these things have also been included, the problem can be solved if these things are implemented.”
Senior Vice President Malhotra said that the biggest reason behind the slowdown in the economy is the problem seen in the real estate business. He said that the slowdown in the real estate business has also affected other businesses and said that making the real estate business dynamic should be the government’s first priority. He insisted that there should be no restrictions on the real estate business and that foreigners should be allowed to sell apartments. If the government implements this, foreigners will come to Nepal and invest in land, he believes that it will also help in earning foreign exchange and the tourism industry. He said that the government should not make any concessions to make the sluggish real estate business dynamic.
He said, “The biggest reason behind the slowdown of our economy today, as everyone understands, is that the kind of problem that has arisen in the real estate business has caused problems in the entire business and industry. There was no rotation, it was not dynamic. People who need to buy houses and land have not bought them. When this business came to a standstill, other businesses were affected. Therefore, the government should make it a priority to make this business dynamic. There should be no restrictions on the real estate business. Our point is that foreigners should be allowed to sell apartments. If this is implemented, foreigners will start coming to Nepal, start investing in land, foreign currency will be earned, and this will also help the tourism industry. The real estate business, which has been slowing down, can also be operated. The government should not make any kind of savings in this. It was included in the budget before, but it was not implemented. However, we say that this should also be included in the budget and implemented.”
The government’s policy and program have also given hope to the Independent Power Producers’ Association of Nepal (IPPAN). IPPAN is excited that the policy and program has moved forward to make the Energy Development Roadmap 2081 an institutional policy. IPPAN General Secretary Balram Khatiwada says that the development of the energy sector can be taken forward if the things included in the policy and program are implemented. He said that since they have suffered a lot in the past years, this time they will be disciplined and will develop extensively and the government should play a supportive role in that. He said that the government is taking opinions and suggestions from IPPAN in formulating the policy and that the policy and program has encouraged them as their points have also been included.
He said, “The policy and program for the upcoming year 2082-083 has also given us some hope for the government. It seems that it is trying to do something in this sector this year. The largest government has passed the Energy Development Roadmap 2081. If we can implement the points in it, we believe that we can easily develop this sector. The policy and program has moved forward to make the Energy Development Roadmap 2081 an institutional policy, and we are very optimistic about that. If the things included in it are implemented, it will be very easy to move this sector forward. We suffered a lot last year. I hope that such a situation does not come again. We should also move forward with the idea that we should develop it in a disciplined and comprehensive manner. The government should also play a supportive role in this. We are also taking opinions and suggestions from policy-making places. This time, some of our things have definitely been included. For example, it has also been mentioned that the private sector will work with the government to build transmission lines at the national-international level. Like now, if any energy is produced in the up-mead mode, such as solar wind, in the vicinity of the project, it will be transmitted through this grid. For this reason, there is hope that something will happen this time. Along with this, there is also a matter of taking our opinion on the regulation and policy of the energy development roadmap and taking it to the committee. That is why we are excited about the government this time.”
He said that the government had also discussed the budget issue with them and taken their opinions and suggestions. He said that the government has taken it positively since they are demanding to make the working environment easier for them. General Secretary Khatiwada said that while only 1 percent customs duty was levied on parts for electricity maintenance, it has been removed for the past two years and their main demand is that it should be continued. He stressed that the bank should increase the investment limit at a time when the energy sector is expanding and they have started building large projects themselves.
He said, “We have also discussed the budget issue, our opinions and suggestions have been taken from us, we have also held two or four meetings with the Ministry of Finance. Our opinions and suggestions have been taken, it is not known whether they will come or not. But we are making requests. We have not asked for anything big in the budget. We only want to make the working environment easier for us and policy matters. In the past, as mentioned in the Electricity Act 2049, only 1 percent customs duty was levied on parts for electricity maintenance and repair, but it has been removed for the past two years. Our demand is that it should be continued. While the energy sector is expanding, we have started building big projects ourselves, and we have said that the bank should increase the investment limit. The government should do only this, and while we are developing the project, it is the government’s job to provide that transmission line, the government should develop it by allocating sufficient budget for it. Only then can we both move forward together.”
Although the policies and programs introduced by the government to boost the slowing economy and encourage the private sector are taken positively, it is important to include them in the budget. In a situation where businessmen are reluctant to invest even when money is piled up in the bank, the government needs to include the contents included in the policies and programs in the budget and implement them. This will not only increase the confidence of businessmen in the government, but will also help boost the country’s economy. Therefore, the government must be serious about this issue. -News Agency Nepal
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