NCC draws govt attention on proposed bill

By A Staff Reporter,Kathmandu, Sept. 9: Nepal Chamber of Commerce (NCC) has drawn the attention of Chief Secretary Eaknarayan Aryal to correct the provisions of the proposed bill to bring the private sector under the Commission for the Investigation of Abuse of Authority (CIAA). 

A delegation of NCC led by its president Kamalesh Kumar Agrawal met Chief Secretary Aryal and drew his attention on Sunday. 

According to a press statement of NCC, it said that the provision of the bill under consideration in the State Affairs Committee of the Parliament would depress the private sector and discourage investment.

"In the Commission for Investigation of Abuse of Authority Third Amendment Bill 2076, which is under consideration at the State Affairs Committee, the provisions proposed to bring the private sector’s individuals and companies within the scope of the Commission will discourage investors,” it said.

The Chamber has emphasised the policy of stability for the economic prosperity of the country. 

It said that only if there was political stability, the country could create an investment environment, increase production and create jobs. 

The delegation of NCC drew the attention of Chief Secretary Aryal also to review the provision that those who have more than one per cent of shares cannot take loans from any organisation.

In the amendment proposal of the Bank and Financial Institutions Act, the private sector, which has played an important role in the development of Nepal's banking sector, is prohibited from taking loans from any institution in which they have more than one per cent of shares. 

“If this happens, it will have a direct impact on investment and economic growth itself,” it said.

During the meeting, Chief Secretary Aryal said that the government was committed to moving forward by cooperating with the private sector for the economic prosperity in the country. 

He said that the government would cooperate with the Chamber to control the unnatural price hike of foods in the market during the festival season and prevent the black-marketing.