'New government formation raises hopes for economic stability'

KATHMANDU: The formation of a new government involving the two largest parties in the parliament has raised hopes for political stability in Nepal, according to Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Dhakal. 

Dhakal stated, "This development has inspired the business community." He highlighted that political and policy instability have been major obstacles to building an investment-friendly environment in the country. 

"We have been dealing with an economic slowdown since the Covid 19 pandemic and political instability has exacerbated the situation," Dhakal said on Tuesday. 

He expressed hope that the new government, led by CPN (UML) Chairperson KP Sharma Oli and supported by the largest party in parliament, the Nepali Congress, would pave the way for economic revival.

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