FNCCI expresses sorrow over losses, urges security for private sector

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed deep sorrow over the loss of life and property during recent nationwide protests and demonstrations. In a statement today, the FNCCI extended heartfelt condolences to the families of those killed and wished a speedy recovery to the injured.

The FNCCI highlighted the youth’s demands for good governance, corruption control, freedom of speech, dignified employment and proper use of public revenue. It said a wise resolution would set Nepal on a path to prosperity in line with these aspirations and stands ready to help end the current uncertainty by establishing the peace and security arrangements necessary for the private sector to operate smoothly.

Representing around 600,000 entrepreneurs and industrialists through district, municipal, commodity and associate memberships, the FNCCI condemned recent vandalism and arson attacks on industries, offices and residences. Preliminary estimates suggest these incidents have caused losses running into billions of rupees, with serious implications for government revenue and gross domestic product (GDP).

Warning that further disruption of private sector activities will dent the economy and reduce future revenue, the FNCCI urged authorities to guarantee security so that businesses and the public can continue their work without hindrance.

To maintain supply chains during prohibitory orders and curfews, the FNCCI called for facilitation of essential services and the unfettered movement of goods such as medicine, food, milk, water, fruit, vegetables and petroleum products. It also requested representation on security committees at central, provincial and district levels to ensure the private sector has input into decision-making.

Although Tribhuvan International Airport (TIA) remains open, many customs checkpoints are closed. The FNCCI asked for security at these crossings to support the import and export of essential goods. Noting the private sector’s contribution of 81% to the economy, 80% to revenue and 86% to employment, it said business representation would help restore stability and drive growth.

These issues were endorsed by the FNCCI’s Executive Committee and former presidents at a meeting on Wednesday, where members resolved to publicise the private sector’s stance. They concluded that only a high-growth environment underpinned by social justice can secure dignified employment and high wages, and urged all stakeholders to work towards good governance, freedom of speech and an investment-friendly climate.