Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the government to take immediate measures to put an end to the culture of impunity in order to spur business activities in the country.

The apex organisation of Nepali business sector has also demanded constitutional guarantee of liberal market oriented economy.

Kush Kumar Joshi, president, FNCCI, said that as the private sector is playing a pivotal role in capital formation, it should be shielded from insecurity.

The investment made by Nepali industrialists and entrepreneurs is eight-fold bigger than foreign direct investment while there is a 5:8 ratio of private and public sector investment.

The share of manufacturing sector is witnessing downward spiral due to security problems. In 2000, the industrial sector contributed seven percent to the gross domestic contribution (GDP) which now stands at 7.1 percent. Export and manufacturing sectors’ growth in 2008 was 0.18 percent and minus 1.9 percent respectively.

Presenting a paper on ‘Re-invigorating Private Sector Development’, Dr Shankar Sharma, former chairman of National Planning Commission (NPC) also asked the government to end impunity to stimulate private sector to invest in economic activities.

Around 20 entrepreneurs have been killed, 55 kidnapped and 54 industries closed down over the last eight months. Industries were closed for 62 days in the period mainly due to labour problems. nepalnews.com Apr 12 09