MPs pledge support for private sector-friendly policies

KATHMANDU: Members of Parliament representing both houses of the Federal Parliament committed to fostering private sector-friendly policies. 

During a programme held in Kathmandu on Sunday, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) witnessed participation of over 100 MPs who vowed to ensure that private sector does not encounter unnecessary obstacles.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel addressed the gathering, emphasising that meaningful change hinges upon creating an environment conducive to increased investment. He highlighted the government's ongoing efforts to address economic challenges and stressed regular communication with the private sector to solve problems. The Finance Minister committed to implementing reforms across immediate, mid-term, and long-term measures.

Minister Paudel also announced the formation of a high-level economic reform commission dedicated to studying and recommending both short-term and long-term measures. 

FNCCI consistently advocates for private sector interests, presenting recommendations related to various legislative reforms under consideration in Parliament.

Special guest at the programme, Minister for Industry, Commerce and Supplies, Damodar Bhandari, underscored the significance of recent amendments made to some Nepal Acts, aiming to enable an atmosphere conducive to investment. These changes are expected to lay the groundwork for policy reforms. Minister Bhandari highlighted increased registrations of medium and large industries in special economic zones (SEZ) — an encouraging sign of private sector growth. Previously limited to budgetary suggestions, FNCCI now actively engages with both the executive and legislative branches through continuous programmes, Minister Bhandari mentioned.

On the occasion, Energy Minister Dipak Khadka revealed ongoing efforts to make pending bills related to electricity and water resources more business-friendly. Discussions are underway to enhance private sector participation in transmission line projects, he informed.

House of Representatives (HoR), Economy Committee Chairperson Santosh Chalise apprised the gathering of the committee's ongoing discussions on laws relating to banks and financial institutions. 

HoR State Affairs and Good Governance Committee Chairperson Ramhari Khatiwada acknowledged the challenges faced by the private sector due to discouraging policies. Khatiwada stressed the importance of creating an uninterrupted working environment for entrepreneurs, recognising their role in driving investment expansion.

HoR Law, Justice, and Human Rights Committee Chairperson Bimala Subedi highlighted the need for legal provisions that facilitate private sector activities. 

CPN (Maoist Centre) Chief Whip Hit Raj Pandey expressed support for advancing private sector economic activities, including social justice considerations.

Rastriya Swatantra Party (RSP) Spokesperson Manish Jha emphasised the need to elevate the status of entrepreneurs. He stressed the need to boost their morale to create an environment conducive to working environment.

FNCCI President Chandra Prasad Dhakal highlighted the importance of creating an enabling environment for private sector growth. He emphasised that businesses operating within legal boundaries should not face obstacles. The programme was organised to ensure that no laws discourage investment and production, Dhakal asserted.