FNCCI expresses concern over recurring arrests of businesspersons

KATHMANDU: Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has voiced concerns over the recurring arrests of entrepreneurs amid the country's economic challenges.

Arun Kumar Chaudhary, Managing Director and Chairman of CG Holdings, and Ajit Narayan Singh Thapa, former Chairman of Bansbari Leather Shoes Factory, were detained by a team from the Central Investigation Bureau (CIB) of Nepal Police. Chaudhary was taken into custody from Lainchaur and Thapa from Battisputali, Kathmandu, as confirmed by CIB spokesperson, Superintendent of Police (SP) Nawaraj Adhikari.

The CIB has linked the arrests to the alleged misappropriation of 10 ropani land property belonging to Bansbari Leather and Shoes Factory.

FNCCI has repeatedly called on the government to avoid arresting businesspersons until a thorough investigation has been carried out. The current 'arrest first, investigate later' approach has further disheartened entrepreneurs already struggling with the country's business environment. As such, FNCCI has urged the government to establish the facts before proceeding with any legal action.

With an investment summit in Nepal on the horizon, FNCCI has warned the government and relevant agencies that such arrests could discourage both current and potential domestic and foreign investors.

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