Private sector sees a bleaker future

The private sector is not optimistic about the future of economic activities even after an election government was formed under the leadership of Chief Justice Khil Raj Regmi based on a 11-point pact signed by the four major political parties.
"The election is not likely to take place in June," Suraj Vaidya, the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the apex body of the private sector, said Thursday. "We wish for the election to happen on time but as the parties have already indicated that that wouldn´t be taking place by setting another date."
The private sector had opposed the 11-point pact saying that the documents lacked economic agendas. "We have lost a complete year without a full-fledged budget in place," Vaidya said. "We fear that another year also might go by without a budget being brought on time."
Despite the doubts, Vaidya expressed hopes about the newly formed government. "I am hopeful that this government will be able to hold an election but I am not sure it will be in June," he said.
Similarly, Narendra Basnet, the president of the Confederation of Nepalese Industries (CNI), said the newly formed government would make the required efforts to hold an election on time.
"The private sector is looking for better performance in the economic front," Basnet said. "I am hopeful that an election will take place and the country´s political situation will get better."
Suresh Basnet, the president of Nepal Chamber of Commerce (NCC), also echoed the thought. "We are hopeful but things are still fragile in the country," Basnet said. "The political parties have lost confidence. This 11-point pact is the result of their ego." He further added that he was looking for election to take place on time though that still seems a distant wish.