Kathmandu. KATHMANDU: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has stressed the need to ensure that the private sector would not be attacked in any manner. Speaking at the second edition of National Economic Debate organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) here today, Dhakal said that the private sector was the base for the nation’s prosperity.
He urged the government to pass a proposal of public importance from the Council of Ministers in order to make the private sector aware of employment, revenue, infrastructure development and accountability towards the society. Chairman Dhakal said that as part of the proposal, the private sector protection and promotion program should be approved to provide speedy service facilities from all the bodies with necessary security so that there is no attack on the private sector.
“In our country, it is a crime to make a profit. But the purpose of business is to make a profit by providing services. Yes, it is because of this difference that the private sector is attacked. Isn’t it important for the state to create jobs and pay revenue? ” he asked.
Stating that the recent incidents of attack, arson and looting of private sector during the demonstrations and agitations have weakened the morale of the investors, he urged the government to take stern action against those involved in looting and arson, and strengthen the security mechanism to prevent recurrence of such incidents. According to a preliminary study carried out by the FNCCI, the private sector suffered physical damage worth Rs 48 billion and a total loss of Rs 88 billion in the arson and vandalism that took place after the Genji agitation.
According to a study carried out by the International Finance Corporation and the Federation of Nepalese Federations, the private sector’s contribution to the country’s economy is 81 per cent, 86 per cent in employment and over 80 per cent in income tax.
He expressed gratitude to the government for the government’s initiative to resolve the dispute related to dedicated feeder and truck line and circular issued by the Ministry of Home Affairs to the participation of the Chamber of Commerce and Industry in the District Security Committee at all the District Administration Offices. According to him, Nepal Development Public Limited has been established to create an environment conducive for domestic investment in the country, which will mobilize private capital in big infrastructure projects.
He urged the government to postpone the deadline for Nepal’s upgrade by at least three years and start export subsidy at a time when Nepal is graduating from the LDC status. “The federation has been consistently saying that it is only artificially rich. Bangladesh had on September 25 requested the United Nations to re-evaluate the upgrade. ” he said.
He said that such investment should be encouraged at a time when investment from India and other countries is trying to come to Nepal due to the US customs policy. Stating that the FNJ has been consistently raising the issue of good governance, President Dhakal urged the Prime Minister to form a good governance mechanism with the participation of the private sector to maintain good governance. Stating that the topic of youth entrepreneurship was very important, he stressed on the strong implementation of the start-up policy by addressing the issues like good governance, entrepreneurship and employment being raised by the youths in the present situation of the country.
