Be serious on economic issues: Chaudhary

KATHMANDU, June 16: President of Confederation of Nepalese Industries (CNI) Binod Kumar Chaudhary on Thursday blamed the political parties of not being serious towards country´s economy even as key economic sectors are receding sharply.



“Despite huge differences, parties managed to ink five-point deal when faced with political crisis. However, they are not taking similar step on the economic front even though the country is already on the verge of a serious economic disaster,” said Chaudhary.[break]



Interacting with business journalists, Chaudhary, who is also a member of Constituent Assembly, urged the major political parties to instantly correct their positions. He also asked them to immediately start consultations for timely announcement of a full-fledged budget for 2011/12. Chaudhary said the parties are still preferring to delay the budget till political understanding is reached, and this has turned the private sector jittery.



“Similar tendency to delay the budget has been creating confusions and eroding private sector´s confidence over the last three years. Unfortunately, we are moving in the same direction this year as well,” said Chaudhary.



Chaudhary attributed the present gloom in the market, including low investment, fading trade and commerce, and liquidity problem to leaders´ failure in coming up with a clear economic vision and government´s inability to spend capital expenditure. “Present liquidity crunch surfaced because the government failed to give pace to development and spend capital budget,” said Chaudhary.



Earlier, Confederation of Nepalese Industries (CNI) signed an agreement with the Society of Economic Journalists Nepal (Sejon), committing to support capacity building of the journalists covering business and economic issues. Chaudhary and Narayan Sapkota, president of Sejon signed a Memorandum of Understanding (MoU) on behalf of respective institutions.



Under the memorandum of understanding (MoU), Sejon said it would facilitate the economic journalists to play a constructive role in economic advancement, industrial development and promotion of investments. Likewise, CNI committed to work for the protection of rights and interests of economic journalists. It has also expressed eagerness to support the journalists through facilitating their participation in domestic and international trainings and exposure visits, among others.

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