Kathmandu, Oct 7: The private sector has welcomed the government’s recent programs to boost investor confidence hit by the Gen Z protests. The measures include tax exemptions for reconstruction, banking relief, and easier access to insurance.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President Chandra Prasad Dhakal, Confederation of Nepalese Industries (CNI) President Birendra Raj Pandey, and Nepal Chamber of Commerce President Kamlesh Kumar Agrawal jointly expressed support for the government’s initiatives.
They urged their members and entrepreneurs to use the newly integrated database system launched by Finance Minister Rameshwar Khanal on September 25, which updates reference book data every six months and addresses traders’ long-standing grievances. The system records the valuation of all cleared goods and serves as a digital tool for comparing and analyzing customs data, helping identify fair transaction values.
During a meeting with the finance minister, private sector representatives said the infiltration of violent groups during the youth-led protests had targeted the private sector, which contributes 81 percent to the economy and 86 percent to employment. They warned that failure to punish those involved in looting and arson would further demoralize entrepreneurs and urged prompt legal action.
The private sector leaders reiterated their commitment to zero tolerance against corruption and called on the government to ensure a secure environment for businesses to operate freely. Finance Minister Khanal said the government was addressing private sector demands to the extent possible and urged entrepreneurs to conduct business with honesty and in line with professional ethics.
They also expressed readiness to cooperate in holding timely elections, saying free and fair polls strengthen both the open market and democratic system.
People’s News Monitoring Service
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