NCC, FNCCI to cooperate in economic agenda

By A staff Reporter,Kathmandu, May 4:  Two leading private sector organisations - Nepal Chamber of Commerce (NCC) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have reached an agreement to cooperate in economic matters.

While congratulating and welcoming the newly elected president of the FNCCI, Chandra Prasad Dhakal, Senior Vice-president Anjan Shrestha and other officials, the NCC said that an agreement has been reached to move forward with common views on the issues like high interest rates and bill on the Commission for the Investigation of the Abuse of Authority (CIAA).  

Rajendra Malla, President of the NCC, said that the Chamber and the FNCCI should coordinate to strengthen the country's economy and organise the voice of the private sector. Reminding that the relationship between the two institutions has been like flesh and nails since its inception, he emphasized that in the future, the two should move forward with common views on the economic agenda.

"A situation has arisen where the government gives assurances on various issues related to the country's economy and the private sector, but does not implement them. In order to draw the attention of the government, it is necessary for the leading organizations of the private sector to decide on a common opinion and move forward," said Malla.

He also said that when the country's economy is going through a difficult situation, the bill related to the CIAA has caused more confusion and demoralisation in the private sector. Malla said that joint efforts should be made to immediately reduce the high interest rates in banks and financial institutions.

Likewise, FNCCI President Dhakal also emphasised on the need for joint efforts to address the financial issues. He said that the private sector should move forward united to face the challenges of the existing economy.

According to Dhakal, it is necessary to take the initiative to reduce the interest rate even by changing some provisions of the monetary policy. "The economic issues of the FNCCI and NCC are the same. 

So, it is also necessary to create a single voice on matters such as bills related to authority and jurisdiction, high interest rates. 

For that, the chamber and the federation should take a joint initiative," said Dhakal.

He also said that the government should also take seriously the issues raised by the private sector.