They emphasize that political parties and citizens must make a strong commitment to curb such activities and reduce the suffering experienced by the private sector.
What you should know
Industrialists and businessmen have said that the private sector, which is building a self-reliant economy, should not be the target of any kind of attack. They emphasize that political parties and citizens should make a firm commitment to curb such activities and reduce the suffering being faced by the private sector.
In a large interactive program organized by the Industry Organization Morang and the National Business Initiative and coordinated by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Koshi Province, on the theme ‘Private Sector Questions, Identity and Commitment’, Nandakishore Rathi, President of the Industry Organization Morang, said that since private sector industries, business centers, shops, warehouses and houses are being systematically vandalized and arsoned in every movement, industrialists have become afraid to invest in their own country.
‘The false, misleading and provocative information spread against the private sector through social media is creating a narrative about whether investing is a sin or making a profit is a crime,’ he said.
Although the private sector expects sustainable, stable and predictable policies, problems such as policy changes with the change of government in the country, irregularities, lack of good governance, slowness and corruption are repeatedly hindering the private sector, according to President Rathi. He said that a situation has arisen where the private sector is forced to seek proximity to political power centers to overcome such obstacles while operating industries and businesses. "Such a situation is neither healthy for the private sector nor appropriate for a democratic state system," he said.
National Business Initiative Chairman Kush Kumar Joshi mentioned that the private sector, which is the backbone of economic development, is currently caught in a vortex of deep pain, fear and uncertainty. He said that despite contributing to economic development by paying taxes by adhering to state laws and policies, the society's attitude towards this sector has not yet become positive. He said that the negative commentary spreading against the private sector is weakening the business-friendly environment day by day.
As the morale and confidence of industrialists and businessmen are declining, the environment for new investments is becoming bleak. In such a situation, he said, it is everyone's responsibility to present the real challenges of the private sector clearly and loftily at the national level based on facts and logic.
Kishor Pradhan, Central Coordinator of the National Business Initiative, said that industry and trade are not the backbone of any class, individual or group, but the backbone of the national economy. He believes that everyone should review the invaluable contribution of this sector from the heart as it provides employment to millions of Nepalis, provides economic empowerment to the state through taxes and revenues, and opens the door to development through capital formation and investment.
Stating that the private sector is a very hardworking, diligent and risk-taking sector, former Governor of the Nepal Rastra Bank, Chiranjivi Nepal, said that it is the shared responsibility of all stakeholders, including the government, to boost the morale of this sector, which has fallen recently.
