KATHMANDU: CPN (UML) Chairman KP Sharma Oli emphasized the need for the government to be serious about the effective implementation of the upcoming fiscal year’s budget.
Inaugurating the second district convention of the UML-affiliated industrialists’ special district committee on Saturday, Oli stated that his party is in discussions with the government to make necessary adjustments for better budget implementation.
The former Prime Minister highlighted the importance of making the import of raw materials more accessible to support domestic entrepreneurs and advocated for lower tax rates for them.
“The government has failed to address this issue adequately. I have raised this concern,” he added.
Oli stressed the need for focusing on domestic capital formation and technology development.
“While we may need to import capital and technology if ours are insufficient, our primary emphasis should be on developing our own,” he said.
He argued that the country has not significantly benefited from the inflow of foreign direct investment and emphasized that such investments should be used to create employment opportunities.
Highlighting the role of technology in industrialization, Oli stated that the country’s status would not improve until agriculture is modernized and industrialized.
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