Private sector hopeful of political stability

 Kathmandu, Aug. 10

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has expected the private sector to expand in hope that the government made up of major parties in the Parliament would maintain political and policy stability.

Addressing the annual general meeting of the Kailali Chamber of Commerce and Industry (KCCI) on Saturday, he said that policy instability was the biggest problem for economic expansion but now there was a possibility of improvement.

Stating that the external sector was strong and the stock market had also started to pick up speed, Dhakal said that the government should implement further reforms to create demand in the market and support the growth of the manufacturing and productive sectors.

According to him, with the stability in the central government, the provincial governments are also likely to be permanent. The provincial and local governments should also facilitate the expansion of economic activities in their respective areas.

Dhakal said that the possibility was high in Sudurpaschim Province, which ranks sixth among the provinces in terms of GDP and has the highest rate of poverty. Not only the water resources and tourism have potential in this region, but also the human resources in the province are very hardworking.

He also said that the FNCCI was working to help small and medium enterprises in the districts. He promised that if there is any problem, the organisation would take the initiative to solve it.

President of the KCCI, Pushpa Kunwar, said that the association was playing an effective role in the expansion of economic activities in the Sudurpaschim Province.

He also said that the government's support was needed in areas such as marketing of products from the province and access to finance.

Published in The Rising Nepal daily on 11 August 2024.