A study by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has revealed that only 46 percent of the 74 private sector-related initiatives included in the fiscal year 2082/83 budget were fully implemented. According to the report released by the federation, 34 initiatives were fully implemented, 34 partially, and 6 not implemented at all. FNCCI President Birendra Raj Pandey emphasized the necessity of collaboration between the government and the private sector for economic development and urged effective implementation of capital expenditure. Report dated 29th Shrawan, Kathmandu.
The implementation of private sector-related points outlined in the fiscal year 2082/83 budget was found to be weak. This finding was disclosed during a budget watch program jointly organized by the FNCCI and Nepal Economic Journalists Society (NEJS). The federation noted that out of 74 private sector-related points in the budget, only 34 were fully executed, another 34 were partially implemented, while 6 received no implementation whatsoever.
Overall, only 46 percent of the announced budget allocations were fully realized. Among 27 points related to industrial development, only 14 were fully executed. In the sectors of energy, infrastructure, and urban development, 5 out of 14 points were fully implemented. Agricultural and medicinal herb-related initiatives saw 4 out of 7 fully completed. In tourism, 3 of 9 points were fully implemented, while investment and financial sectors recorded 4 out of 8 fully realized initiatives. Within education and employment, only 1 of 3 points was fully implemented, and in information technology and startups, 3 out of 6 points were fully executed, the federation’s study showed.
At the program, Province Chamber of Commerce president Birendra Raj Pandey stressed that collaboration between the government and the private sector is indispensable for Nepal’s economic growth, industrial transformation, and prosperity journey. He affirmed FNCCI’s readiness to cooperate with the government and committed to continuing the budget watch program throughout the current fiscal year. Pandey called on the government for effective implementation of capital expenditures, highlighting the need for timely completion of infrastructure projects to meet this year’s economic growth targets, improving the quality of public spending, creating a conducive environment to encourage private investment, and expediting decision-making processes within ministries.
