Accord importance to private sector: Dhakal

By A Staff Reporter,Kathmandu, Mar. 7: Senior Vice President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal has requested the government to prioritise the private sector and economic agenda.

Addressing the opening ceremony of the Gandaki Industrial Trade Fair 2023 held at Gaidakot in Nawalpur on Sunday, Senior Vice President Dhakal said, "Every government is heard to say that it will cooperate with the private sector and develop the private sector. But in practice, we have not been able to feel that the parties have prioritized the private sector.”

“When we approach various government bodies regarding the country's industrial development and economic issues, we find that this is the agenda of the private sector only."

The private sector has been saying that problems in the economy will not be solved by stopping imports, he said and added that it has hit revenue collection only.

"We said that the current problem will not be solved by imposing a ban on imports. In exchange for that, we were also advised to stop the informal business at the border. But the government did not listen to that and imposed a ban on imports. Because of that, it has a big impact on the revenue mobilisation now," he said.

He has suggested to the government and regulatory bodies to hold extensive discussions with the private sector and stakeholders when making new policies and regulations.

Stating that some people are saying that they do not have to pay the interest and loans taken from the bank, he indicated that this may cause a big problem in the economy.

"A few years ago, when there was news in the newspaper about a certain bank, there was a queue of people in the bank to withdraw deposits. Common people had withdrawn deposits from that bank in an unnatural manner and Nepal Rastra Bank had to intervene. Even now, there are voices from the streets saying that the loan taken from the bank does not need to be repaid. This is a scary situation. If we do not address it in time, it may cause a major crisis in the country's economy," Dhakal said.

"I would like to ask the leaders of the political parties present and the industrialists, what do you mean by not paying the bank loan?" Bank deposits are the moneys of common people. If we say so for the sake of popularity that the people's money in the bank should not be paid, what will be the result,” he asked.

He asked everyone not to raise the issue irresponsibly just for applause from the crowd.

“I also want to tell my friends in the private sector. Be realistic and practical. Don't go out of it and compete to be popular in the crowd. Do not fall behind such irresponsible things for cheap popularity. This may one day lead to a crisis that we have not imagined," he said.

Stating that there is a possibility of commercially producing iron from the Dhaubadi Iron Mine in Nawalpur, the work has not progressed for a long time and he also requested to entrust it to the private sector.