NCC against bringing private sector under CIAA scanner

KATHMANDU: Nepal Chamber of Commerce has expressed serious concern over the proposal of bill that allows the Commission for the Investigation of Abuse of Authority (CIAA) to oversee the private sector. The NCC has asserted that bringing the private sector under the CIAA's jurisdiction will not be compatible with the Constitution and will lower the morale of industrialists. According to NCC, bringing the private sector under CIAA's jurisdiction despite the presence of other bodies that regulate the private sector will discourage industrialists. "The proposed bill that allows the CIAA to regulate the private sector will also affect the latter's efficiency as well as foreign investment," read the statement issued by the NCC. The provision in the bill will make it difficult to take business decisions, said the organisation of private sector. The chamber further asserted that there was no such provision when the bill was created to amend the Commission for the Investigation of Abuse of Authority Act,2048 (1991). The NCC has expressed disagreement with the proposal sent by the Upper House to the Lower House of the Parliament including the provision that the authority can oversee the private sector. NCC President Rajendra Malla stressed that banks and financial institutions (BFIs), industries, public companies, health institutions and other sectors mentioned in the amendment bill should not be brought within the CIAA's jurisdiction. NCC has further drawn the attention of the Federal Parliament to avoid legal arrangements that will further shrink the private sector and have a negative impact when the country's economy is at risk. READ ALSO:

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