President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandi Raj Dhakal, has said Nepali economy has turned out to be something like a chariot with broken wheel.
Speaker of the HoR Subash Nemwang and President of Federation of Nepalese Chamber of Commerce and Industries Chandi Raj Dhakal (third and fourth from left) in the inaugural ceremony of the 40th annual general convention of the FNCCI in Kathmandu, Sunday, Aug 06 06. nepalnews.com/rh
Speaker of the HoR Subash Nemwang and President of Federation of Nepalese …
He said it can’t attain pace unless it is restructured.
In his 40-minute-long speech at the 40th annual general meeting of the apex private sector body in the capital, Kathmandu, on Sunday, Dhakal said lack of reference towards the country’s private sector in various understandings reached between the seven party alliance and the CPN (Maoist) was a dishonour towards the private sector.
Dhakal demanded that private sector be also included in the proposed interim legislature. He also expressed disappointment towards what he said indifference of the lawmakers towards the country’s economy. Dhakal said deteriorating law and order situation in the country had its toll on economy and businesses. He referred to attacks on businessmen in southern town of Birgunj and disturbances targeting several industries around the country.
“The environment of investment is disturbed. Some of the businesses of the private sector are undergoing severe unfavourable situation due to internal and external reasons. The future is at risk. The major challenge for the government of Nepal is to rehabilitate such businesses, solve the problems of insecurity and disturbances in this sector and thereby creating an investment friendly environment,” he added.
Unlike in the past when business leaders used to defend loan defaulters, Dhakal demanded that action to its fullest extent should be taken to such debtors who have not paid back the loan despite their capacity to pay it. He, however, said, “Instead of making insolvency law, property management law, legal infrastructure for the institution to evaluate loan and focusing on their effective implementation to address such situation, treating all on the same footing with the help of impractical laws by putting all the blames to the debtors only is, not at all, appropriate.”
Dhakal also demanded that the government guarantee the rule of law and security. If a congenial environment was created, the private sector was committed to create employment opportunities within the country, he added.
Inaugurating the AGM, Speaker of the House of Representatives Subash C. Nemwang, said the reinstated parliament was concerned towards the economic environment in the country. He advised the FNCCI to pressurize the SPA and Maoists to develop minimum understanding towards country’s economy and the private sector do its job without any hindrance.
The organisers said some half a dozen ministers, including Finance Minister Dr. Ram Sharan Mahat, are scheduled to address the meeting on Sunday afternoon. Similarly, Maoist chairman, Pushpa Kamal Dahal alias Prachanda, is scheduled to outline his party’s economic policies and respond to queries from the businessmen on Monday.
Extending his vote of thanks, first vice president of the FNCCI, Diwaker Golchha, said Nepali economy was passing through a very difficult state now. He said at a time when Nepal’s giant neighbours—India and China—were growing between 8 to 10 percent, Nepal must take initiatives to overcome existing impediments and move forward.
The AGM will continue until Monday.