FNCCI urges political parties to include private sector protections in manifestos

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged political parties to add clear, implementation-focused measures to protect and promote the private sector in their election manifestos. The federation warned that ignoring businesses could weaken economic recovery, jobs and investor confidence.

The press meet, titled 'Private sector in manifestos' on Saturday, was addressed by FNCCI President Chandra Prasad Dhakal, who thanked the media and said trust and cooperation between the government, parties and the private sector are essential for economic stability and long‑term prosperity. He asked that manifestos include steps to restore entrepreneurs’ morale and protect the freedom to do business.

FNCCI said the private sector accounts for about 81% of GDP and provides 86% of employment. It reported direct physical damage of about Rs 36 billion and total private sector losses around Rs 80 billion from recent unrest, and warned that sector morale is at a historic low with a rising risk of capital flight.

To rebuild confidence, FNCCI proposed legal and regulatory reforms, including repealing or amending laws that discourage investment, consolidating investigations of economic offences under a single agency, and adding a business icon to the Nagarik app to provide end-to-end digital business services within a year.

On the occasion, the federation unveiled a Private Sector Protection and Promotion (PSPP) Plan calling for industrial and commercial zones to be declared areas of special importance or peace, a special industrial security mechanism, and a single-door, fast-track service for reconstruction of damaged properties. Sectoral measures include an Organic Hills programme, a Farm to Gulf export initiative, and tourism incentives to develop Nepal as a wedding and conference destination.

On investment and infrastructure, FNCCI urged an Investment Promotion Decade, the merger of the Investment Board Nepal with the Department of Industry to form a stronger promotion body, extension of hydropower tax incentives to 2032, and increased private participation in electricity trade, transmission and airport operations.

FNCCI appealed to parties to make manifestos actionable and private-sector-friendly, saying only a secure and confident private sector can expand employment and revenue. It said detailed proposals will be shared with parties and the media.