Fiscal Nepal
First Business News Portal in English from Nepal
Chandra Prasad Dhakal
KATHMANDU: Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), expressed satisfaction with the fiscal year 2082/83 (2025/26) budget, stating that it incorporates many of the private sector’s key recommendations. Speaking to media personnel at the Federal Parliament premises after Finance Minister Bishnu Prasad Paudel presented the NPR 19.64 trillion budget on Thursday at 3 PM, Dhakal emphasized the budget’s focus on prioritizing the private sector.
“This budget places the private sector in the driver’s seat and gives it significant importance. It feels different from previous budgets and raises hopes for positive impact,” Dhakal said.
Highlighting that the FNCCI’s critical suggestions were included, he stressed the need for robust implementation. “Many of our recommendations have been incorporated. The budget looks promising on paper, but implementation has often been a weak point,” he noted, adding that the FNCCI will closely monitor execution and provide further feedback accordingly.
Dhakal also underscored the importance of implementing recommendations from the High-Level Economic Reform Commission. On social security allowances, he revealed that the FNCCI had proposed raising the eligibility age to 70 years. “Providing social security allowances at age 70 was our suggestion. The private sector is enthusiastic, and this budget will foster an investment-friendly environment,” he said.
The budget’s pro-private sector measures, including tax exemptions for IT and tourism, relaxed foreign investment rules, and infrastructure development plans, align with the FNCCI’s advocacy. However, Dhakal cautioned that the budget’s success hinges on effective execution, a challenge Nepal has faced in meeting past economic targets.
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