Budget Encourages Private Sector, Supports Investment-Friendly Environment: Industry Leaders

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, stated that the budget for the upcoming fiscal year 2082/83 is favorable to the private sector. Speaking at a post-budget discussion program organized by the Nepal Economic Journalists Association on Saturday, Dhakal emphasized that the government has given priority to the private sector in this budget.

He also highlighted that allowing Nepali citizens to invest abroad is a significant and historic move. “This decision will empower the private sector,” said Dhakal. “The private sector is always ready to work with the government to make sound decisions.”

Dhakal stressed the need to focus on mobilizing resources and implementing the plans outlined in the budget effectively.

Similarly, former president of the Confederation of Nepalese Industries (CNI), Vishnu Agrawal, welcomed the new budget. Speaking at the same discussion program, he said the budget is encouraging for the private sector and can help boost investor confidence. “This is a welcoming step towards creating an investment-friendly environment,” he said.

Agrawal noted that in order to meet the revenue targets, production must increase. “Investment and production are essential for revenue growth,” he emphasized. He also mentioned that the government's openness to allowing foreign investments has generated enthusiasm within the private sector.

He praised the budget for its focus on industrial development and suggested that attention must also be given to improving the customs system. Referring to Nepal’s energy sector, he said, “Energy is a highly significant sector for Nepal’s development, but there has been a lack of proper oversight. The government needs to formulate supportive and clear policies to advance this sector.”

The industry leaders present at the discussion concluded that the budget is private sector-friendly and urged the government to ensure its effective implementation for real impact.