FNCCI, GAN hail budget

KATHMANDU, Nov 24: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has welcomed the recently unveiled budget for the fiscal year 2010/11 for emphasizing on development of infrastructure and announcing different incentives to business people to boost exports of Nepali goods.



Issuing a press statement Wednesday, the apex organization of Nepali business community lauded the budget for incorporating new programs to encourage hydropower projects, categorize land and substitute imports. It also welcomed the decision to set up police beat for industries, generating more employment opportunities.[break]



FNCCI, however, has expressed dissatisfaction over the budget´s indifference to address the issue of industrial security which has long been raised by the business people.



“We welcome the decision to provide cash incentive of Rs 500,000 to organizers of workshops and seminars bringing in more than 100 foreigners via air and encourage opening of five star hotels in Kathmandu, Janakpur and Lumbini,” the statement said.



Similarly, Garment Association Nepal (GAN) has also lauded the programs to support infrastructure development and provide security to industries generating more employment and cash incentives to exporters of goods that have more value addition.



It, however, has expressed dissatisfaction over the budget´s failure to incorporate its suggestions of including establishment of garment processing zone and lobbying for duty free access to USA for Nepali apparels.

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