CNI congratulates new FCAN executive committee, urges greater infrastructure investment

KATHMANDU: Confederation of Nepalese Industries (CNI) on Tuesday congratulated the newly elected executive committee of Federation of Contractors' Associations of Nepal (FCAN) and urged greater investment in the country’s infrastructure sector.

At a welcome and congratulatory programme held at the CNI Secretariat, CNI President Birendra Raj Pandey extended his congratulations to newly elected FCAN President Nicholas Pandey and other office-bearers. The meeting addressed rising construction costs driven by high petroleum prices and discussed the government’s proposed amendments to the Public Procurement Act.

Pandey stated that soaring fuel prices have sharply increased project costs and urged the government to provide relief measures similar to past interventions. He said collaboration on policy and legal reforms is essential for broader economic development and stressed the need to scale up infrastructure investment.

“It is necessary to move forward by collaborating on policy and legal reforms for the development of the overall economy,” CNI President Pandey said. He set an ambitious target for economic growth, adding, “Investment in areas such as infrastructure development must be increased to grow the current economy of approximately $45 billion to $100 billion within the next 10 years.”

Pandey also highlighted CNI’s domestic industry campaign, saying the organisation is promoting local production and employment through its 'Make in Nepal' Swadeshi initiative to build a self-reliant economy by increasing consumption of domestic goods. He urged that the Public Procurement Act be amended to deliver a long-term and sustainable solution.

FCAN's new President Nicholas Pandey welcomed the collaboration, noting that both organisations prioritise infrastructure development. He cautioned against halting construction projects due to limited government funds and called for alternative financing to sustain development.

“Since CNI also places high priority on infrastructure development, it is easy to move forward through collaboration,” he said, adding that “investment in infrastructure should be increased through alternative sources.”

The programme was attended by newly elected FCAN office-bearers and senior CNI figures, including Sandeep Kumar Sharda, President of the Youth Community for Nepalese Contractors (YCNC), Basant Chand, and CNI Director General Ghanashyam Ojha.