Kathmandu, August 6: Santosh Pandey, Vice President of the Nepal Chamber of Commerce, has urged the government to introduce a separate law on debt recovery to help manage the growing volume of credit transactions in the market.
Addressing the 25th Annual General Meeting and Silver Jubilee Celebration–2083 of the Nepal Distributors’ Association held at Gatthaghar, Bhaktapur, today, Pandey said that a substantial amount of money in the distribution business remains tied up in credit sales, and recovering those dues often takes a very long time.
Vice President Pandey stressed that representatives of the entire private sector should unite to push for the formulation of an effective law on debt recovery. He said that a collective voice was needed to protect the interests of the business community.
He complained that the government appeared unwilling to listen to the concerns of the private sector, stating that even when business representatives sought meetings with the concerned ministers to discuss economic recovery and business-friendly policies, they were often turned away on the pretext of a lack of time.
Commenting that ministers seemed more focused on formal meetings and photo opportunities than on seriously listening to the problems faced by entrepreneurs, he said the government must become more committed to addressing the genuine issues confronting the private sector.
He also complained that distributors and businesspeople were facing unnecessary hassles and pressure from various government agencies, and urged the government to create a more convenient and trustworthy environment for conducting business.
People’s News Monitoring Service.
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