By A Staff Reporter
Kathmandu, Dec. 12: President of the Federation of Nepalese of Chambers of Commerce and Industry (FNCCI) Shekhar Golchha has said that ethical business practices have become a major component in business activity.
The FNCCI has been emphasising the ethical business to make the private sector dignified and respected, he said while speaking at an interaction on ethical business organised by FNCCI and Transparency International Nepal on the occasion of the International Anti-Corruption Day on Friday.

Stating that the FNCCI has raised the voice of the esteemed private sector, he said that entrepreneurs should run their business with ethics to be respected.
"Despite the private sector's great contribution to job creation, revenue collection and economic development, the public does not have a good image of the private sector. Therefore, the existing perception of people towards entrepreneurs should be changed by doing ethical business,” he said.

He said that the perception of people to look for profit earned from business is negative, which is unreasonable as the business could not sustain without profit.
He, however, said that the businessmen should equally focus on the social aspects along with profit following the policy and acts of the government.
President Golchha said that the FNCCI had begun the work to make business code of conduct timely.

For this, former president of FNCCI and founder president of National Business Initiatives (NBI) Padma Jyoti have started work to amend the business code of conduct.
On the occasion, Jyoti said that businessmen should fulfil their responsibility with adoption of code of conduct for business freedom.
He urged the concerned stakeholders to provide inputs to make the business code of conduct timely and implement it effectively.

“The business code of conduct will be prepared based on the category of business because the same code of conduct will not be appropriate for all industries and companies,” he said.
The code of conduct is a prime element for business sustainability and development as it leads to long-term financial benefits through reduced cost of doing business, increased investors, as well as goodwill to society and the environment.
On the occasion, secretary general at the Transparency International Nepal Mukunda Bahadur Pradhan said that entrepreneurs should make effective programmes and implement them in their working sector to fight against corruption.