FNCCI proposes Private Sector Protection and Promotion Programme
Kathmandu, Nov. 8
The government has
assured the private sector, which experienced a severe attack and damage to
business and private properties during the Gen Z movement in September, that investments
and investors will be protected.
Speaking at the
National Economic Dialogue 2.0 organised by the Federation of Nepalese Chambers
of Commerce and Industry (FNCCI) in the Capital on Saturday, Prime Minister
Sushila Karki, Finance Minister Rameshore Prasad Khanal, Home Minister Om
Prakash Aryal and Industry Minister Anil Sinha uniformly appreciated the role
of the private sector in the aftermath of the movement. They assured that
policies would be enacted to facilitate and protect the businesses and
industries.
Prime Minister Karki
assured the private sector that their contribution to the economy and society
would be aptly valued and utmost security would be provided to the investment.
"The government
and the private sector are the engine and fuel in a vehicle, so one compliments
the other. Without one, the vehicle cannot move ahead," she said
According to her, persecution of honest entrepreneurs and the protection of those who
manipulate policies must not continue.
"We strongly condemn the damage caused
to the industrial and business sectors by a few unruly groups taking advantage
of a temporary state of power vacuum," she said while adding, "I
would like to once again assure you that the government will leave no stone
unturned in providing immediate relief and support to the private sector — just
as it has done for the injured youths of the Gen Z movement — and in restoring
their confidence."
The government is
aware of the structural shortcomings in the economy, lack of job creation and capital
flight. Upcoming policies will be built on these factors, she said.
Stating that the Gen Z
movement clearly articulated that the youth will not tolerate corruption, bad
governance, and looting in the name of democracy, PM Karki stated that the
government would take every possible step to boost the confidence of the
private sector. "For this, all the culprits that were involved in the
vandalisation of private property and business on September 24 will be brought
to the book. We are aware of the looting in the guise of politics," she
said.
Likewise, she informed
that the government is formulating strategy to harness the opportunities in
hydroelectricity, agriculture and tourism sector and attract investment in
these priority sectors.
She also took the
opportunity to call one and all to support in creating conducive environment
for the upcoming election to the House of Representatives slated for March 5.
MoF to make swift
decisions
Speaking on the
occasion, Finance Minister Rameshore Prasad Khanal said that government's basic
priority is private sector facilitation which has been initiated with the
concessions and facilities announced in the aftermath of the September
movement. "Revolutionary reforms at the customs administration are in the
offing. Tax centres are being expanded to the local levels and, within a year,
tax service will be available at every local body," he stated.
According to him, the
Ministry of Finance wouldn't hesitate to make quick decisions on the matters
related to the business, investment and economic growth.
"Wealth created
by the private sector is also the property of the country. There is a need to
educate people that the damage caused to the private property and business
establishment is the damage made to the country," said Minister Khanal.
Home Minister Om
Prakash Aryal said that the current priority is strict implementation of the rule
of law and sending message to the people that they are safe. He stated that
many of those attacking the business and private property have been arrested
and the remaining ones will be booked soon.
"The government
is in continuous contact with the stakeholders of the politics and economy and
will devise better path and system for the future," he said.
Need to inspire
future investors
Minister For Industry
Commerce and Supplies Anil Kumar Sinha said that the government and ministries
need to set the priorities to move ahead in order to achieve the desired
results.
"My first
priority as a minister is to extend service delivery to inspire the future
generations that is joining the business. Decision making process should be
swift and pragmatic," he said. "But the very next day I assumed the
position of Industry Minister, few entrepreneurs called me to offer their
support, especially job to the families of those killed during the protest and
other possible means. It has motivated me that we can have a collective effort
in rebuilding the economy."
Chief Secretary Eak
Narayan Aryal said that the government is yet to fully internalize the fact
that the private sector is the major contributor to the economic growth and
employment. "High government officials talk about the importance of
private sector in public events but forget it while formulating policies and
strategies," he said.
But still the business
community has left the issues of damage during the protest in September and
begun to talk about the positive aspects which will contribute positively to
credit rating of the country, said Aryal.
The chief secretary
also said that poor coordination among the three levels of the government has
created hurdles and troubles for the investors and entrepreneurs.
Governor of the Nepal
Rastra Bank Dr. Bishwo Poudel urged businesspeople and all to have a positive
mindset and talk about positive aspects of the economy and financial markets.
"If we continuously say the stock market will go down, it might actually
go down. Let's not make self-fulfilling prophecies to actually happen," he
said.
He also said that in
the first phase the country needs to finalise the growth drivers, then develop
strategies to work on them.
Need for special
initiative
FNCCI President
Chandra Prasad Dhakal said that the private sector expected a special
initiative from the government to raise the dwindling confidence of the private
sector. Security of investment and investors and speedy service delivery from
all concerned authorities should be the primary step towards it.
"Even the
bedrooms of businesspeople have been vandalised and looted during the Gen Z
demonstrations in September, which has badly shaken their confidence," he
said. He suggested the establishment of Private Sector
Protection and Promotion Programme (PSPPP) to ensure that no form of attack is
carried out against the private sector, and that swift services and facilities
are provided in an integrated manner by all relevant agencies with the
necessary security arrangements.
Dhakal also expressed
ire that the private sector has long been portrayed as a profit-monger sector
while they provide service to earn the profits. The private sector has more
than 81 per cent contribution to the national economy and 86 per cent in the
total employment. They conduct the export trade and earn foreign currency.
"I would like to
remind you that in the aftermath of the COVID-19 pandemic, revenue collection
had exceeded budget estimates. We have been fulfilling our duties," said
Dhakal.
However, according to
him, the government has listened to the concerns and demands of the private
sector regarding the trunk line and dedicated feeder dispute. The FNCCI wants
to settle the dispute amicably.
He suggested that
business renewal shouldn't be made mandatory for an enterprise that is
regularly paying the taxes.
Need for long-term
protection plan
President of Confederation
of Nepalese Industries Birendra Raj Pandey said that investment should be taken
seriously because an investor has calculated multiple risks before putting in
the money in any business.
According to him,
long-term industrial protection plan should be formulated at the earliest,
attackers on private property should be brought to book, public services should
be fully digitalised. "Nepali private sector has high resilience and has
sprung back from many disasters. So, we will rise again. The government must
facilitate in the process," he said.
Vice President of
Nepal Chamber of Commerce Surendra Sharestha said that the private sector's
decreasing confidence has resulted in growing liquidity in the financial
system, and decreasing investment, production and exports.
The government should
promote secure environment, concessional finance and technical facilitation to
the businesses, he said.
Published in The Rising Nepal daily on 9 November 2025.
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