PM indicates easing restrictions for business revival

Kathmandu, Sept. 6

Prime Minister KP Sharma Oli has indicated to easing of the restrictions to facilitate the operation of the businesses and industries.

Amidst the growing concerns to the economic disasters and estimates of the gross domestic product growing already turning to the negative, the PM had hold a meeting with the private sector representatives to find the solutions to address the concerns of the business community while putting in the measures to save health and lives of people.

Concerned ministers, and other representatives and high officials were also present in the meeting organised at the PM's Residence in Baluwatar.

The meeting discussed about the impact coronavirus pandemic and the restrictions imposed to save the lives of people had on the business and economy.

PM Oli pledged to take some quick steps to address the challenges faced by the private sector and said that the government will soon make a decision for the same, according to a business leader who was present in the meeting.

"Saving lives of people is the first priority of the government," he reiterated. "But, at the same time, we can not make the businesses hostage of the situation."

He expressed concerns to the growing unemployment in the country and impact of the lockdown and restriction on the poor people. The government will make arrangements not to let people remain without food, the Chief District Officers and local bodies will be mobilised to support the deprived people during the pandemic, he said.

The private sector has urged the PM to take the pandemic control measures and economic activities simultaneously, said Rajendra Malla, Senior Vice President of the Nepal Chamber of Commerce.

The business leaders had suggested the PM and the government to allow the business to open in strictly guided environment as the restriction had a heavy toll on employment, income and economy.

"We recommended employ strict punitive measures for those who do not adhere to the health and safety measures. Both the government and private sector have agreed that the economy should be brought into the mobility," said Malla.

Senior Vice President of the Federation of Nepalese Chambers of Commerce and Industry Chandra Prasad Dhakal said that there were chances of easing the restrictions.

"If we continue with the restrictions and let business and industries off the operation, the economy will deteriorate to the level from where it can't be recovered," he said.

Following the announcement of lockdown for the first time on March 24 this year, no business is running comfortable. The food industries that were categorized in the essential category are also on the verge of shutting down due the rapid contagion and value chain breakdown.

Meanwhile, a small number of medium and large enterprises have applied for the refinancing and other relief options announced by the government. Most of the cottage and small enterprises are remaining without a clue about the possible solution to their miseries created by the loss.

Published in The Rising Nepal daily on 7 September 2020.