Invest at least 10% of GDP in infra projects:CNI

Published On: June 19, 2017 01:00 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 19: Confederation of Nepalese Industries (CNI) has urged the government to invest at least 10 percent of the country's total gross domestic product (GDP) in infrastructure projects.

During a meeting with Prime Minister Sher Bahadur Deuba at the latter's office in Singha Durbar on Sunday, CNI asked the government to put infrastructure projects in priority.

The government currently allocates about 8 percent of the GDP for infrastructure projects. But real spending is below 80 percent of the allocated amount. 

CNI has asked the government to put Pokhara International Airport, Gautam Buddha Regional International Airport, Kathmandu Tarai Expressway, Upper Tamakoshi Hydropower Project and Melamchi Water Supply Project in high priority. 

Though all of these projects are national pride projects, most of them have reported slow work progress. 

CNI President Hari Bhakta Sharma urged the Prime Minister to strengthen manufacturing sector by setting up industrial clusters and initiating policy reforms. 

Responding to the demands, Deuba said that the government was committed toward economic development. He said he was hopeful that the country would achieve double-digit economic growth in the coming years. 

During the meeting, CNI also briefed Deuba of the economic challenges that the country is facing. It also asked the Prime Minister to address the challenges by investing in infrastructure projects and creating a favorable environment for investment. 

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