Private sector reps urge government to ensure business-friendly environment
KATHMANDU: Finance Minister Rameshore Prasad Khanal has stated that the government is working to boost private sector morale.
He expressed this view during a meeting with Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal, Confederation of Nepalese Industries (CNI) President Birendra Raj Pandey and Nepal Chamber of Commerce (NCC) President Kamlesh Kumar Agrawal.
The government has launched reconstruction programmes offering revenue exemptions, banking concessions and simpler insurance processes. It has also abolished the reference price system in customs and introduced an online database to improve market transparency.
Business representatives welcomed the reforms and urged their members to use the new database, which gathers price information for all goods cleared through customs. Launched on September 25, the system aims to resolve complaints about the old reference manual, which was updated every six months.
They said recent intrusions, looting and arson during youth protests have damaged the private sector — now responsible for 81% of GDP and 86% of employment — and demanded immediate legal action against those responsible.
Leaders stressed the sector’s zero-tolerance stance on corruption and called on the government to ensure a business-friendly environment. They also urged companies to operate with integrity under a clear code of conduct.
With elections approaching, they saw an opportunity to drive further reforms. They proposed a multilateral finance conference led by the private sector to attract investment and strengthen confidence. They pledged full cooperation for a timely election, saying it would reinforce Nepal’s open market and democratic system.
