The budgetary estimates for the current fiscal year (2013-14) with increased public spending, that were unveiled yesterday, have evoked mixed response from the country’s trade and industry, with the private sector lamenting that foreign companies are being preferred for mega projects at its expense.
And at least one top corporate executive said larger outlays for development projects would make more sense and would be more convincing if the government also declares how much of the amounts earmarked for development in the last budget (2012-13) have actually been spent.
“Also, infrastructure development projects are long-term and take at least five years to complete so how yearly outlays are going to be helpful,” asked Nasser Al Khaledy, CEO of Qatar-Oman Investment Company, a listed entity.
Read more: http://thepeninsulaqatar.com/business/231518-budget-evokes-mixed-response.html
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