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Revert to open market economy: FNCCI

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KATHMANDU, July 8: Private sector leaders have objected to the political parties´ decision to include cooperatives as one of the three pillars of national economy, saying that the decision undermines the contribution of the private sector.



They also condemned the government decision of adopting mixed economy system, and demanded that the government revert to open market economy.[break]



A delegation of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Friday met Prime Minister Jhalanath Khanal and requested the latter to review the decision.



“It is true that cooperatives have played a significant role in strengthening micro-finance sector, but it shouldn´t get equal recognition like the private sector does,” Bhaskar Raj Rajkarnikar, senior vice president of the apex business body, said after meeting PM Khanal.



During the meeting, the FNCCI officials also condemned the decision of adopting mixed economic policy instead of the open market economy. “The government has decided to adopt mixed economic system, ignoring voices of the private sector. This is objectionable,” a member of the delegation told Republica.



The FNCCI officials, however, requested PM Khanal to revert to the open market economy. “PM Khanal has assured us of holding talks with the private sector on the model of national economy,” Rajkarnikar added.



The delegation requested the prime minister to focus on infrastructure development to lure local as well as foreign investment. It also demanded that the government allocate separate budget to run programs like ´Village, One Product´ and ´Youth Self Employment programs´ and ´Skill Training Center´.



“We´ve requested the government to allocate additional budget for these programs, as they´ve become quite successful,” Rajkarnikar added.


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