CNI welcomes new government's pledge to repeal outdated laws

KATHMANDU: Confederation of Nepalese Industries (CNI) has welcomed the government led by Prime Minister Balendra Shah for pledging to repeal several outdated laws and pursue policy reforms to improve governance and boost economic activity.

In a statement released on Sunday, CNI said the new administration has prioritised recommendations the industry body has repeatedly made and has signalled a commitment to “maintaining good governance and ending corruption,” which it said aligns with public expectations and benefits the business environment.

CNI praised the government’s decision to repeal the Act Restricting Investment Abroad, the Compensation Act, the Black-marketing and Some Other Social Offences and Punishment Act, and the Nepal Agency Act. It also welcomed the move to dissolve the Department of Revenue Investigation.

The statement listed administrative priorities, including transforming public service delivery into a fully digital, single-window, interconnected system; fast-tracking land acquisition, compensation determination, tree-felling approvals and environmental impact assessment clearances for large strategic projects; and making public procurement fully digital, transparent and trackable.

CNI said it supported measures to strengthen security for industries, commercial centres and supply chains; to activate an Industry-Commerce Dialogue Council chaired by the prime minister for ongoing public-private coordination; to automate tax administration; and to implement a private sector protection and promotion strategy immediately.

Other priorities noted by the CNI include controlling revenue leakage, simplifying taxpayer services, creating a framework to merge similar funds for higher-return investments, issuing a health tourism strategy to promote wellness tourism, and starting the process to determine minimum support prices for major food crops.

The industry body urged political parties to prioritise the economic agenda and welcomed the government’s pledge to prepare a national commitment that synthesises implementable items from party manifestos and pledges.

CNI said it will continue to provide legal and policy recommendations to the government and regulators based on research, to promote investment, create jobs and expand manufacturing. Wishing Prime Minister Shah a successful tenure, the confederation expressed confidence that the measures could set a new direction for Nepal’s economic development.