CIM holds discussion on economic issues with RSP VP Wagle

KATHMANDU: Chamber of Industries Morang (CIM) organised a discussion on contemporary economic issues with Rastriya Swatantra Party (RSP) vice-president and House of Representatives member Dr Swarnim Wagle and RSP spokesperson Manish Jha.  

Addressing the programme, CIM President Nand Kishor Rathi said domestic industries and businesses, which form the foundations of the economy, had been affected by internal and external factors. He expressed regret that despite abundant liquidity in banks and falling interest rates, the industrial sector had failed to gain momentum as expected. He emphasised that instability in the external sector had driven up logistics costs for industries dependent on imported raw materials, resulting in higher production costs and widening trade deficit, and called for a shared understanding among all political parties on economic matters.  

MP and economist Dr Wagle said the pace of economic development was slowing and urged rapid reforms. To prevent youth migration, he suggested, dignified employment opportunities should be created within the country so people can sustain themselves. He added that industrialists and businesspeople currently spent most of their time on administrative matters rather than developing their businesses and argued that the state should focus on creating an environment in which enterprises can thrive.  

RSP Spokerperson Jha said an integrated strategy and plan were essential to accelerate Nepal’s development. He called for policies benefiting the industrial and business sectors, which are indispensable for economic growth, and reaffirmed the party’s commitment to this aim.  

Rakesh Surana, Immediate Past President of CIM, pointed out that although Nepal is exporting electricity, industries still suffer from load-shedding and frequent tripping. He stressed the need for continuous power supply.  

Former CIM president Suyash Pyakurel observed that industrialists and businesspeople spent most of their time navigating procedural complexities and waiting for months to complete minor tasks, preventing them from focusing on broader issues.  

In the discussion, CIM treasurer Paras Luniya said that despite exporting paper and paper products, the government had not adjusted customs duties on raw materials used for export-oriented production.  

CIM executive committee member Saurav Sarda said frequent changes to policies and legislation governing mild-steel wire-rod duties had caused confusion among industrialists and disappointment among investors, and called for sustainable policy formulation.  

The discussion was attended by CIM senior vice-president Bholeshwor Dulal, vice-presidents Surendra Golchha and Bipin Kabra, executive members Birendra Rathi, Srijan Pyakurel, Siddartha Kabra and Ukesh Agrawal, Morang Chamber of Commerce and Industry Vice President Bikash Kumar Begwani, women entrepreneurs and officials from the Nepalese Young Entrepreneurs’ Forum (NYEF)Biratnagar chapter, among others.