The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the newly-formed government to declare 2018-27 as Nation-Building Decade.

Speaking at a press meet on Sunday, officials of the largest umbrella organisation of the private sector in Nepal appealed to the federal and provincial governments to enact policies and programmes on infrastructure development, industrial expansion, tourism, energy and agriculture to jumpstart the economic growth of the country. They focused on the role of the newly formed governments to help the private sector spur the country’s economic growth.

“The federation appeals to the newly-formed federal government and the seven provincial governments to come up with concrete strategies and policies to climb out of the stagnant growth of the past two decades,” said FNCCI President Bhawani Rana. 

She also appealed to the federal government to aid businesses avoid the hassle of double taxation. “If double taxation remains unresolved, it could discourage the private sector from investing in productive sectors of the economy,” she said. 

Shekhar Golchha, senior vice-president of the FNCCI, said, “The government 

should prioritize the long-delayed economic agenda such as economic growth and employment creation by enacting business-friendly laws. The private sector is keenly expecting productive governmental efforts to help investors.”

Responding to questions from journalists about the responsibility of the private sector in the slow progress of some projects, Umesh Lal Shrestha, vice-president of the FNCCI (commodity), blamed the unsystematic payment procedure of some government offices for the delay. He acknowledged that the private sector should also be accountable to the public.  

In a summit statement released to the public, the FNCCI urged both levels of government to coordinate efforts with the private sector to attract domestic and foreign investment. It also requested all levels of government to come up with plans for new projects and create a conducive atmosphere for the effective participation of various businesses. 

The FNCCI asked the government to implement prudent economic diplomacy to lure investors from India and China. Likewise, it appealed to the federal government to update various acts and ordinances such as the Patent, Design and Trade Mark Act 1966 and the Black Marketing Act 2008 to keep up with global developments. 

The federation plans to raise its concerns and issues through its branch offices in all seven provinces. As the first step in this direction, a programme will be held in Pokhara on February 25. After concluding programmes by mid-March in all seven provinces, the FNCCI plans to organize a conference focusing on national economic cooperation in Kathmandu. 

President Rana said that the FNCCI would continue to act as a watchdog and speak up for the national economic agenda. “The FNCCI will continue to make constructive criticism and collaboration with the federal government and the seven provincial governments to aid the economic prosperity of the country,” she said.