NCC urges NC to prioritise investment-friendly policies in upcoming budget

KATHMANDU: Nepal Chamber of Commerce (NCC) has urged the Nepali Congress (NC) to prioritise an investment-friendly environment and production-oriented policies for the upcoming budget.

During an interaction organised by the NC's Industry and Trade Department on Monday regarding the formulation of budget for fiscal year 2025/26, NCC presented various suggestions, addressing the challenges faced by industrial and commercial sectors and proposing initiatives for improvement. NCC Acting President Deepak Kumar Malhotra handed over the NCC's recommendations to NC President and former Prime Minister Sher Bahadur Deuba.

The NCC stressed the importance of repealing Working Capital Loans Guidelines, 2079, stating that complex provisions have restricted loan expansion despite availability of investable funds in banks and financial institutions (BFIs). It also recommended simplifying income source verification for property purchases and introducing measures allowing foreign nationals to purchase apartments to revitalise real estate market.

The NCC urged the removal of land ownership ceilings to attract foreign investment in agriculture and proposed policies to utilise barren land to generate employment opportunities for youth within the country. It also advocated for the practical implementation of production-oriented policies to reduce reliance on agriculture.

For tourism development, the NCC suggested organising annual Nepal promotion programmes at embassies abroad and ensuring efficient operation of the country’s two additional international airports. It highlighted concerns about hydropower project construction caused by provisions in the Energy Bill, court rulings, and forest-related guidelines, calling for legislative amendments to address these challenges.

The NCC expressed concern over suspension of initial public offerings (IPOs) for nearly 50 hydropower companies by the Securities Board of Nepal (SEBON), stating that this has created financial hurdles in project development.

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