FNCCI Welcomes Budget

FNCCI Welcomes Budget

July 28, 2013, 5:45 p.m. Published in Magazine Issue: Vol.: 07 No.-04 July 26 -2013 (Shrawan 11, 2070)

The Federation of Nepalese Chambers of Commerce and Industries (FNCCI) has hailed programs for infrastructure development in the new budget, but said the budget lacks incentives for export-oriented industries and substantial programs to address existing energy crisis.

Speaking at a press meet, Gyanendra Lal Pradhan, executive committee member of FNCCI, said the budget has not addressed the concerns of the private power producers who can bail the country out of the energy crisis by completing the ongoing projects.

“Instead of helping undergoing projects that can end load-shedding within the next five years, the budget talks about using surplus power for the east-west electric railway and building cross-boundary transmission line for export,” said Pradhan. “Power producers have been left discouraged. They cannot earn profit by selling power at the existing power purchase agreement (PPA) rate.”

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