CNI meets Finance Minister to discuss reforms, $100bn economy target

KATHMANDU: A delegation from the Confederation of Nepalese Industries (CNI) met Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel at the Ministry of Finance, Singha Durbar, on Wednesday.

The discussions were led by CNI’s newly elected president, Birendra Raj Pandey. He said the private sector expects the economy to improve as the government has introduced a budget promoting production and a monetary policy supporting it.

Pandey added that CNI aims to achieve a $100 billion economy and double-digit growth in the next decade, and that preliminary studies show eight sectors must be prioritised. He said a detailed study has begun on how to reach these targets and urged the implementation of the report of the High-Level Economic Reform Suggestion Commission, strict measures to curb smuggling and the introduction of a Debt Recovery Act.

Finance Minister Paudel congratulated the new committee and said the government has taken CNI’s concerns seriously. He confirmed that the report of the High-Level Economic Reforms Recommendation Commission has been approved and implementation is underway. He added that measures requiring phased implementation will proceed accordingly, mentioning that illegal trade has had the greatest impact on government revenue and stressed the need for stringent border controls. He also urged CNI to play a constructive role in implementing the budget for 2025/26.

CNI office-bearers at the meeting included immediate past president Rajesh Kumar Agrawal; vice presidents Raj Bahadur Shah, Rohit Gupta and Amit More; permanent invitee Vidushi Rana; and Director-General Ghanashyam Ojha.