FNCCI presents recommendations

Kathmandu, June 12 (RSS): A delegation led by president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Rabi Bhakta Shrestha presented recommendations by the FNCCI on immediate steps to be taken for the resolution of problems in the economic, industry and commerce sectors to be included in the FY 2059/ 60 budget.

The delegation made recommendations on present economic conditions, the Tenth Plan goals and strategy, poverty alleviation, the NDF meeting concepts, the budget allocation for industrial security and implementation of earlier decisions, encouragement to new investment and activating the investment board.

The delegation also demanded use of indigenous products in development and government purchases, and called for utilising sympathy shown to Nepal world-wide.

The delegation stressed improvement of law and order, industrial security and budget arrangement for the implementation of the industrial security forces concept.

The FNCCI stressed making more effective the NRB loans to bankrupt industries as per the HMG decision and the finalisation of the industrial policy.

The delegation called for activating the revenue advisory committee on problems of Value Added Tax and for discussion on the amendment of the regulations on new Income Tax Act.

FNCCI called for government initiative to implement the treaty as it has been managing and issuing the certificate of origin in easing the export to India after renewal of the Nepal-India Commerce Treaty, and demanded other check posts after the Raxaul and Rupaidiya quarantine check posts set up by India as there were difficulties because of the only quarantine check post in Pani Tanki for agro products.

The delegation included former FNCCI President Pradip Kumar Shrestha, first Vice president Binod Bahadur Shrestha, and second vice president and spokesman Rajendra Kumar Khetan.