Public-private partnership vital for development: Speaker Sapkota

Kathmandu, Apr. 11

 Speaker of the House of Representatives of the Federal Parliament, Agni Prasad Sapkota, has said that Nepal was bestowed with natural resources and immense potential but it lacked willpower, commitment and vision to exploit them.

"We have been putting our efforts to achieve  the short-term goals while long-term policy, planning and development have been largely ignored," he said while addressing the inaugural session of the 57^th annual general meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), and Industry and Commerce Day, 2022 in Kathmandu on Monday.

Stating that the country was facing an economic challenge, Speaker Sapkota said that a joint effort by the government and private sector should be launched to resolve it.

"They are the two wheels of a chariot in terms of leading the country on the path of economic development. Since economic development cannot  happen without the participation of the private sector, the government must take their demands seriously," he said.

He also said that a good entrepreneur is a good leader. Saying that it is not easy to do business, he suggested continuing public-private dialogue to improve business and investment environment in the country.
Speaker Sapkota said that the private sector should always be given high priority in consideration of  their contribution to  the country's economy, employment, capital formation and investment attraction.

FNCCI President Shekhar Golchha urged the government to make the investment process easier.

"We invest, make the process simple. We produce, don't interrupt. We provide employment, don't strike. We export, encourage. We bring tourists, welcome. We pay the revenue, don't let us be insulted," he said.

Since Nepal's upgrade from the Least Developed Countries in 2026 will affect international trade, especially exports to Europe, the United States and Canada, Golchha urged the government to take proactive steps to support the businesses in export promotion.

"We want the policy to be formulated with the cooperation of the government and under our leadership as the private sector will be most affected by the upgrade," he said.

Expressing concerns over the growing gap between remittance inflows and trade deficit which has reached Rs. 475 billion, he said that remittances can no longer cover the losses.

Likewise, FNCCI Senior Vice President Chandra Prasad Dhakal said that Nepal has about 57 per cent working age people, and it must utilise the strength for economic development.

"If we do not make full use of it within the next few years, there will be more difficult days for us," he said.

He expressed worries over the recent irregular supply of electricity. He said that the discount given on hydropower should also be available to the indigenous investors. Likewise, government facilitation is needed in tourism infrastructure, and the sector requires revenue exemption.

Likewise, according to him, revenue rebates and other facilities are required for the revival of entertainment sector including movies.

On the occasion, senior expert of the FNCCI, Hansa Ram Pandey, and office assistant Shri Krishna Shrestha, who have been serving the federation for 25 years, were honoured with cash and certificates.

Published in The Rising Nepal daily on 12 March 2022.