The two major business associations have agreed to join hands to raise issues of their mutual concern.

The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have reached an understanding to work together to advance the common agenda of the private sector.

The meeting between senior business leaders including FNCCI president Chandi Raj Dhakal and CNI president Binod Chaudhary reached an understanding to work together as per joint strategy.

They have agreed to cooperate with each other on issues such as Terai agitation, irregular electricity supply, industrial labour disputes and the government decision to cancel passports of 80 businessmen for defaulting bank loan repayment.

In a statement issued jointly after the meeting, the two associations have stated that they had expected better days for the private sector and economy after the signing of peace pact – which could not materialise, they have concluded. “The two institutions have decided to become united because unless major problems of industrial sector are not resolved, the economy will be affected and, ultimately, the private sector will collapse,” said the statement.