The government announced its policies and programmes for the next fiscal year yesterday. With the global economy in the doldrums due to the coronavirus pandemic and experts warning that the worst is yet to come, the private sector had been expecting programmes and policies that would help support businesses and revive the economy.
In this regard, The Himalayan Times caught up with a few private sector representatives to get feedback on the government’s policy and programme. Here is what they had to say:
I appreciate the government’s policies and programmes and we are positive it will be implemented effectively. The government’s commitment to bring policies to revive the tourism sector, badly affected by COVID-19, i s laudable. Moreover, once Gautam Buddha International Airport becomes operational next year, it will play a significant role in developing the tourism sector. We have been focusing on domestic tourism at present to revive the industry so the announcement related to renovating domestic airports is a major boost for us. Moreover, the plan to build a conference hall with a capacity to accommodate 5,000 people is what the private sector has been seeking for long. The policies and programmes has focused on developing a set standard in the country’s tourism industry, which is praiseworthy.
Now the government needs to bring a budget that will help us sustain our businesses. The government has to bring policies that will address the losses incurred by the private sector in the upcoming budget.
• Shreejana Rana, President, Hotel Association Nepal
The government’s policies and programmes for the next fiscal has prioritised agriculture and health. We still have to wait for the budget to see what is actually in store for the industrial sector. The president has announced long-term and optimistic programmes for the industrial sector.
So, it will be effective only if the government addresses the issues raised by the private sector in the next budget.
• Satish Kumar More, President, Confederation of Nepalese Industries
The government has completely ignored the private sector’s suggestions. The policies and programmes for the next fiscal seems like a revised version of the current fiscal year’s policies and programmes.
The country’s economy has been badly hit, so the government should have brought some immediate programmes for its revival.
However, the government has again come up with populist programmes. Tourism entrepreneurs were hoping for some relief packages and immediate plans to revive the industry, but the same old programmes have been repeated. Renovation of Tribhuvan International Airport, completion of Gautam Buddha International Airport and Pokhara International Airport are last year’s programmes.
Looking at the policies and programmes, we cannot be hopeful about the budget as well. In short, the policies and programmes for the next fiscal is not significant.
•Achyut Guragain, President, Nepal Association of Tour and Travel Agents
The government has failed to address the impact of coronavirus in its policies and programmes. It has failed to bring any stimulus packages for the industrial sector.
Crisis management is a major challenge at this moment. While the government was mum on local and foreign loans for reviving the economy, it also remained silent about refinancing, reducing loan interests and managing workers’ wages. However, the plan to raise investment in the health sector and introduce programmes to commercialise the agriculture sector are positive sides of the policies and programmes. Plans to utilise barren land for farming and creating employment are also laudable. Now, the government has to bring a stimulus package in the budget. It should also bring a policy of providing five per cent and 10 per cent subsidy for exports to India and other third countries, respectively.
• Shekhar Golchha, Senior Vice-president, Federation of Nepalese Chambers of Commerce and Industry
A version of this article appears in e-paper on May 17, 2020 of The Himalayan Times.
The post Private sector has mixed reactions to government policies and programmes appeared first on The Himalayan Times.
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