FM Sharma defends budget

Kathmandu, June 10

Finance Minister Janardan Sharma Prabhakar has met industrialists and businessmen of eastern Nepal.

During the meeting held at the Ministry of Finance at Singha Durbar, representatives of the Morang Industry Association, Morang Merchants' Association and Confederation of Nepalese Industries (CNI) from Province No. 1 complained about the impact of the budget of upcoming the Fiscal Year 2022/23 on the wire, edible oil and sanitary pad industries.

In response, FM Sharma said that the budget has tried to promote economic activities by expanding industrialisation within the country by giving high priority to indigenous industries. "The aim of the budget is not to create trouble for the business community anywhere," he said. Since the budget has been brought after discussions with all stakeholders, an effort has been made to include the demand of all concerned.

Minister Sharma maintained that a large customs exemption has been provided for the import of sanitary pads to provide relief to the common women and if such exemption has caused any problem to the indigenous industries, he is ready to find a solution. He said that the budget has addressed those who import crude oil and run industries and create employment in the country.

"The budget is for the businessmen. We have made various arrangements in the budget to make the domestic industries better," said Finance Minister Sharma.

During the discussion, Nabin Rijal, President of Morang Industry Association, gave a short presentation on the impact of the budget on the wire, ghee and sanitary pad industries. He called for creating an environment conducive to self-determination when it comes to government policy. 

Published in The Rising Nepal daily on 11 June 2022.