Kathmandu. Stakeholders have expressed the view that the government’s weak annual budget implementation process has reduced the morale of the private sector and has had a negative impact on the overall national economy.
Speakers at the public-private dialogue program on ‘Budget and Industrial Development’ organized by the Confederation of Nepalese Industries in partnership with the Society of Economic Journalists of Nepal (SEJON) on Friday expressed the view that the ambitious plans mentioned in the budget could not be implemented on time, resulting in a reduction in capital expenditure and the expected achievement in job creation.
Dr. Prakash Kumar Shrestha, a member of the National Planning Commission, said at the program that the budget implementation structure and personnel administration are very weak. He said, ‘Our institution is very weak. Even if we look at the situation of the National Planning Commission, its scope, role and structure are decreasing. Institutional capacity is needed for development. We are weak in that.’
He also said that there is a problem in human resources. He says that the tendency to transfer too quickly will not allow employees to develop their skills and will lead to a decline in their decision-making ability. Stating that the provisions for incentives and penalties for employees have also not been implemented, he admitted that procedural complexity remains for effective implementation of the budget.
Chairman of the Confederation of Nepal Industries Rajesh Kumar Agrawal said that although the budget sets ambitious goals, the implementation aspect is weak.
“We have all experienced that the budget sets important goals but the implementation remains weak,” he said. “As the successful implementation of the budget will increase capital expenditure, lead to policy reforms and have a positive impact on the overall economy, its effective implementation is very necessary.”
Krishna Bahadur Raut, Secretary of the Ministry of Industry, Commerce and Supplies, claimed that political changes will not cause problems in budget implementation. .He said that important legal and policy reforms have been made to create a similar investment and business environment.
Former Secretary Krishna Gyawali said that although the budget itself is good, there are problems in its implementation, while Nepal Cement Manufacturers Association President Raghunandan Maru mentioned that industrialists and businessmen have become frustrated due to the failure to create a good investment environment in the country.
He expressed concern over the failure to utilize mining and mineral resources in Nepal. SEJON President Sujan Oli presented the budget implementation status up to the second quarter of the current fiscal year.
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