FNCCI President Dhakal calls for enforceable loan recovery law

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal has said that an enforceable legal provision for loan recovery is necessary.

Speaking at the eighth anniversary and inauguration of the newly constructed assembly hall of the Jitpur Simara Chamber of Commerce and Industry on Tuesday, Dhakal emphasised the need for such a provision and said the FNCCI is lobbying the government and regulatory bodies on this issue.

He said the FNCCI has played a leading role in the country’s economic development and that, through its initiatives and advocacy, the government has amended 30 laws, creating an investment-friendly environment.

He added that overall economic development is possible only by strengthening the private sector, stating that the FNCCI has worked constructively to improve relations between employers and labour and to determine the minimum wage.

Dhakal urged the Jitpur Simara Chamber of Commerce and Industry to be active in presenting policy-reform suggestions, addressing businesspeople’s problems and promoting entrepreneurship at the local level.

He described Jitpur Simara as the industrial hub of Tarai region, saying its geographical location and infrastructure – including Simara Airport, Mahendra Highway and Tribhuvan Highway – hold immense potential for trade and industry.

He praised the chamber’s role in supporting small and medium-sized enterprises (SMEs), creating employment, resolving tax and administrative hassles and improving infrastructure, and expressed hope for further constructive work.

He added that the FNCCI is working with the government on policy reform, creating an investment-friendly environment and promoting international trade, saying that a public–private partnership is indispensable for the country’s economic recovery.