Kathmandu. The private sector has called for declaring the next 10 years as investment decade to removing the hassles faced by the citizens.
The representatives of the private sector said this at an interaction programme with private sector entrepreneurs on the initiatives to be taken by the political parties in the context of ‘Nepal’s current economic situation and upcoming budget’ organized by the CPN-UML in Kathmandu.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal said the next 10 years should be declared as investment decade.
Dhakal said that he had already told the Finance Minister about this, adding that the investment decade would create enthusiasm among the investors, adding that it was necessary to maintain policy stability in the country and the government needed to work on it in the coming days.
According to Dhakal, it is necessary to increase the internal capital as external support is weak as the general expenditure is high. What is its source? If we look at it now, foreign aid has stopped coming. Foreign investment is also declining. Of course, internal capital should be mobilised to generate revenue from it. The source for that is to expand investment. The private sector needs to be encouraged. Now the law has also been changed to promote investment. If we can give first priority to the investment environment, then investment will also be created. Along with job creation, revenue will also increase. It will also provide services to more and more common people. ’
He claimed that only if this could be done, the aspiration of a happy Nepali prosperous Nepal would also be fulfilled.
On the occasion, President of Nepal Chamber of Karma Kamlesh Agrawal said that the private sector has been facing economic slowdown for a long time. He said that the government would improve every time, but the situation is still the same. Stating that there has been no improvement in policy terms, he said it was not good to have a current account savings in a country with an import-based economy.
“The private sector has been facing financial instability since the past. Although the government has said that it will improve every time, the situation is still the same. There has been no policy reform. In a country with an import-based economy, it is not good to have a current account savings. This shows where we are. The situation in the private sector is now suffering from laxity. Industrial production continues to decline. The construction sector is shrinking. The business of small and medium enterprises has been closed. There is no money in the hands of ordinary people. This situation has affected the country’s industry and investment. ’
Chairman Agrawal said that the tendency to go abroad has increased rather than facing problems in the pipeline by operating the industry business. According to him, it needs to be improved. He said that it is a matter of concern that more than 100,000 entrepreneurs have been blacklisted in the last three years due to narrow policies.
According to Agrawal, the purchasing power of thousands of families has shrunk and the morale of the private sector has also declined due to the problem of cooperatives. I don’t have the courage to expand my business by taking a loan.
Former President of Confederation of Nepalese Industries Hari Bhakta Sharma said that the registration of industries and businesses would be done at the local level center and the people were fed up with the national identity card from the citizens.
“First, the government has to create an atmosphere of trust among the citizens. There are many people who can do it in Nepal, the state could not believe them. At present, many state agencies keep biometrics of citizens. People do not understand where the data is being protected and who does it. ’
Bijaya Bahadur Swar, president of the Federation of National Transport Entrepreneurs of Nepal, said the time has come to manage the transport sector, which is providing services to around 1.7 million workers and 4 million households with an investment of Rs 1.3 trillion. He said that in the name of syndicate, this sector has been left behind in the past. He said that the double taxation system in the transport sector should be removed.
“The time has come to manage the transport sector, which is providing services to around 1.7 million workers and 4 million households with an investment of Rs 1.3 trillion. In the name of syndicate, this sector was left behind in the past. The sector should now be managed by enacting acts and laws. The double taxation system in the transport sector should be removed. The government should take effective steps to reduce road accidents. The budget should come up with the opening of refresh centers. ’
Stating that the program of opening refresh centers should be implemented in the budget, he claimed that if such centers were opened in all the seven provinces, accidents would be reduced in a big way.
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