‘Proper strategic plan will ensure investor confidence’
HAVING a proper strategic plan in place will ensure investor confidence is boosted and the Government has a blueprint towards the road to growth.
This was highlighted during the post budget forum organised for members of the business community in the country on Saturday.
Golden Manufacturers group chief executive officer Ram Bajekal raised his concerns on the need for a country to have a proper strategic or development plan that could boost investor confidence.
In response, Minister of Finance Professor Biman Prasad said he agreed with Mr Bajekal’s statement.
“We had this 20-year development plan and a five-year plan, I don’t know how it came about, nobody had that kind of consultation,” he said.
“Even in Parliament, there was no debate about the plan.”
He said with the focus on implementing a planning unit in the Ministry of Finance, this was one of the areas which they would work to address.
“A budget is one plan. But the budget is not tied to a strategic plan, you know where you have a very clear set of objectives that you want to achieve in five years or 10 years or 20 years.
“Then the deliverables based on those objectives, timelines, and specific you know indicators and implementation achievement.
“So every sector get the objectives, gets the key indicators to be achieved in a certain period of time and budgets to be allocated aligned with objectives in the plan.”
He said by next year, they would work on a new development plan.
“We will make sure that it comes through those thematic working groups that were formed during the (national economic) summit.”