Finance minister holds talks with private sector on economic recovery

KATHMANDU: Finance Minister Rameshore Prasad Khanal held a meeting with private sector representatives at the Ministry of Finance today.

They discussed restoring the business environment disrupted by the September 8–9 Gen Z movement and measures to boost investment and trade.

Speaking at the meeting, the minister acknowledged the cooperation and feedback received from the private sector during his tenure. He said one of the primary challenges of his term was to restore the business environment and rebuild the morale of the private sector. “Through collective efforts, the situation has now improved,” he said.

According to information shared by the Ministry Spokesperson, Tanka Prasad Pandey, the discussion mainly focused on achieving economic stability, creating an investment‑friendly environment, promoting trade while protecting cottage industries, strengthening the capital market, and improving economic governance.

The meeting was attended by Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal, Nepal Chamber of Commerce (NCC) President Kamlesh Kumar Agrawal, Confederation of Nepalese Industries (CNI) President Birendra Raj Pandey, and Federation of Nepalese Industries and Commerce (FNIC) President Khimlal Bhandari.

The minister said several concerns raised by the private sector had been addressed during his tenure, while the remaining issues, which he said could not be addressed due to policy complexities, will be handed over to the next finance minister. Private sector representatives thanked the minister for prioritising their concerns.

They also emphasised the need for political stability to achieve national development and prosperity and expressed a positive response to the results of the recent House of Representatives elections. Among their recommendations were implementing a multi‑rate VAT system, introducing a two‑tier difference in import duties between raw materials and finished goods, promoting exports, evaluating the effectiveness of regulatory bodies, and reducing the currently high excise duty rates.