Kathmandu. The Federation of Nepalese Chambers of Commerce and Industry has welcomed the ordinance brought by the government. Federation President Chandra Prasad Dhakal welcomed the ordinance, saying that the government has created an investment-friendly environment.
The federation said, “The Federation of Nepalese Chambers of Commerce and Industry welcomes the initiative taken by the Nepal government to create an investment-friendly environment by amending and revising some laws targeting good governance and economic reform through ordinances in a short period of time to improve the country’s economy.”
On Wednesday (Magh 2), in the presence of Prime Minister K.P. Sharma Oli, ministers of the Nepal government, and industrialists and businessmen at the Prime Minister’s residence in Baluwatar, Federation President Chandra Prasad Dhakal praised the government’s move. .
President Dhakal said that addressing the economic issues that the private sector has been raising for a long time is a sensitive effort to improve the country’s declining economy. “We have seen that many old laws are hindering the economy from moving forward in view of the contraction seen in the economy after Covid and we had requested that those laws be made timely. The private sector has been encouraged by the latest decision made by the government after listening to that request of the private sector. On behalf of the private sector, I would like to thank the Prime Minister and the Council of Ministers. “He said.
Chairman Dhakal urged the government to quickly and easily bring the necessary regulations and procedures for the smooth implementation of the ordinances.
He said that amendments to the Foreign Exchange Regulation Act, which prohibits investment abroad, reforms to the nearly 50-year-old black marketing act, amendments to the Revenue Leakage and Revenue Tribunal Act, including provisions for collateral, and mediation will improve the economy. .
Similarly, the arrangements made to resolve the problems faced in the past while closing companies and the issue of providing space and additional facilities to the service industry in the special economic zone are positive and will facilitate the industrial environment, he said.
He said that the efforts made to speed up the flow of government services were commendable and that the private sector was confident that positive results would be seen from this.
However, since businesses still have to visit various agencies to register, a unified online system is needed to improve this. The federation proposed to make arrangements for working through a single-window system through software, to take initiatives for youth to get a fixed amount of loan against project collateral after registering a business, and to facilitate the acquisition of national identity cards.
He said that remittances are the lifeline of the Nepali economy and that the closure of the internal remittance service has affected development work and the Nepali Army, police, students, and sick people working in remote areas have faced problems. He was of the opinion that internal remittances should be resumed to make the rural economy dynamic.
Similarly, Chairman Dhakal has also drawn the Prime Minister’s attention to the issue of the private sector’s dignity system, saying that there is no dignity system in the private sector that contributes to the country’s economy.
Speaking at the same program, Prime Minister Oli said that the government has taken the issue of the dignity system of the private sector seriously. He also said that the government is sincerely trying to create an environment where the private sector can work without any hindrance.
In the program, Confederation of Nepalese Industries President Rajesh Agrawal, Nepal Chamber of Commerce President Kamlesh Kumar Agrawal, and Nepal National Federation of Industrialists and Entrepreneurs President Bhagirath Sapkota welcomed the ordinance brought by the government.
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