Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry, says that even though crises like the Corona pandemic and earthquake have dealt a major blow to the economy, the private sector has managed to bounce back with patience and commitment.
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President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has urged the government to bring the policy, program and budget for the upcoming fiscal year as a starting point for economic reform.
Addressing Finance Minister Swarnim Wagle at the 60th annual general meeting of the federation, Dhakal also said that the private sector should take the lead in economic reform in the next phase. Dhakal emphasized that the private sector should actively participate in planning and implementation, reducing the tendency to depend on the government for resources.
'It has also been emphasized that new opportunities for development should be sought in collaboration with local and provincial governments,' he said. 'Now the presence of donor agencies will not be the same as before. Let us expand the slogan of respecting the private sector as the basis for prosperity everywhere.'
Stating that coordinated efforts from all levels and sectors are necessary for the new phase of economic reform, Dhakal also said that the federation is ready to provide necessary support.
He said that even though the economy was hit hard by crises like the Corona pandemic and the earthquake, the private sector has managed to bounce back with patience and commitment.
He also informed that the federation has established Nepal Development Public Limited Company with a paid-up capital of Rs 10 billion. 'If the capital of Rs 10 billion is considered as equity, then large projects worth around Rs 40 to 50 billion can be taken forward,' he said. 'This will break the myth that nothing happens in Nepal and send a message that large projects can be run with domestic capital as well. '
