FNCCI expresses dissatisfaction over govt failure to introduce full budget

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed dissatisfaction over the government’s failure to announce a full budget for the fiscal year 2012/013.

The government has announced the one-third budget of Rs. 161.24 billion for the fiscal year 2012/13 through ordinance on Sunday.

"The private sector had suggested for at least minimum consensus among the political parties to introduce the full-fledged budget but the government presented just partial budget," said the Federation in a press statement.

The federation also said that one-third fiscal budget would not solve the economic issues of the country as the partial budget would affect the overall revenue collection and credibility of the government’s policy.

The Federation also said lack of full budget would also have impact on Nepal Investment Year 2012/13 and create unfavorable environment for investment.

The apex body of business community has also urged the government to bring full budget along with forging consensus among political parties focusing economy of the country. Nepalnews.com