MCCI welcomes budget but worried over implementation

The Metropolitan Chamber of Commerce and Industry (MCCI) welcomed the proposed budget for 2021-22 fiscal year, but it thinks implementation of the annual plan will be the biggest challenge.

One of the leading business chambers of the country thanked the government for giving priority on health and agriculture sectors along with overall development of human resources, rural development and job creation.

It also thanked the government for the continuation of the implementation of the stimulus packages.

The trade body believes the upcoming fiscal year may be one of the most challenging years from the perspective of fiscal management due to the present economic slowdown caused by Covid-19 pandemic.

The chamber shared the observation today in a press release, which also contains its budget reaction.

"Revenue mobilisation will be a daunting task," according to the statement.

MCCI termed the budget as courageous and forward-looking in many aspects.

However, the major challenges of proper implementation and ensuring the quality of public spending must be addressed if the nation is to obtain the full benefits of the proposed budgetary allocations and fiscal and other incentives, it added.