During the meeting, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) team emphasized policy stability, structural reforms, and collaboration with the private sector with Finance Minister Swarnim Wagle.
We use Google Cloud Translation Services. Google requires we provide the following disclaimer relating to use of this service:
This service may contain translations powered by Google. Google disclaims all warranties related to the translations, expressed or implied, including any warranties of accuracy, reliability, and any implied warranties of merchantability, fitness for a particular purpose, and noninfringement.
A team from the Federation of Nepalese Chambers of Commerce and Industry met with Finance Minister Swarnim Wagle on Monday. During the meeting, the team emphasized policy stability, structural reforms, and collaboration with the private sector.
A delegation led by Federation President Chandra Prasad Dhakal discussed contemporary economic issues with Finance Minister Wagle. During the discussion, the Federation team said that it was the right thing for the government to accept and implement the suggestions submitted by the High-Level Economic Reform Suggestion Commission formed for the second phase of economic reform as requested by the Federation. Chairman Dhakal emphasized that policy stability, structural reforms, and collaboration with the private sector are necessary to make the economy dynamic.
On the occasion, Federation President Dhakal said that the private sector expects policy decisions from the current government to create an investment-friendly environment, improve the tax system, and boost the morale of the private sector. He emphasized that the policies, programs and budget of the next government should be private sector-friendly and that mobilization of internal and external capital is necessary for the country's economic development and prosperity.
Dhakal informed that something can be done within the country by mobilizing internal capital and that he is working on establishing a Nepal Development Company with a capital of 10 billion rupees under the leadership of the Federation.
He also suggested that the government should take the initiative to postpone the time of Nepal's upgrading as the country is still in transition and neighboring country Bangladesh has also taken the initiative to postpone the time of upgrading.
In the meeting, Finance Minister Swarnim Wagle stated that he had taken the suggestions of the private sector positively and said that the government is committed to bringing structural reforms, policy clarity and effectiveness in implementation for economic reform.
He informed that he had decided to take 15 different laws into the repeal process as soon as he assumed office based on the recommendations of the high-level commission and had also introduced a program to make good governance and civil service easy and simple in the 100-day program.
Finance Minister Wagle said that he is positive that Nepal should take the initiative to move the deadline for upgrading from a least developed country to a developing country, but internal preparations for the upgrade should be made by that time.
Outgoing Chairman Shekhar Golchha said that political and policy stability is expected from a majority government and that restructuring of institutions like the Revenue Tribunal is necessary. He was of the opinion that the government should adopt necessary awareness about the impact that the Middle East crisis could have on Nepal.
Senior Vice Chairman Anjan Shrestha emphasized that the country's economy should be prioritized while formulating foreign policy.
