Himalayan News Service

Kathmandu, February 15:

Business and industry sector people today asked the government to come out with ‘soft financial policies’ in the light of the fact that the country is facing various obstacles.

Speaking at an interaction programme on ‘Role of different organisations in restoring peace, stability and economic revival after the Royal takeover’ held by Hotel Association Nepal (HAN), Mahesh K Agrawal, immediate past-president of Nepal Chamber of Commerce (NCC), urged all concerned businesspersons and organisations to work out plans to boost the confidence of the business sector by introducing soft financial policies at this difficult period.

Agrawal disclosed that economic enterprises are facing survival threats and their financial liability is getting high. Therefore, policies should be framed to ensure sustainable business, trade and economy. Tax liability of the business sector also needs to be reconsidered, suggested Agrawal. Narendra Bajracharya, president of HAN, recalled that due to political instability, economic activities had come to a halt and hoped that in the coming days, it would improve in terms of tourist arrivals and increased economic activities. However, some banks’ move blacklisting different enterprises at a time of conflict, is a serious setback, Bajracharya felt.

Ravi Bhakta Shrestha, former president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), called for peace in the country for its economic revival and urged all not to initiate dispute between friends. He also said that the King Gyanendra’s initiative is very challenging. Rajendra Khetan, vice-president of Confederation of Nepalese Industries (CNI), warned that the increment in VAT from 10 to 13 per cent is due to disputes among business community and it is going to increase further in the days ahead. He urged for a minimum level of understanding among businesspersons for the betterment of the economy. Prakash Shrestha, vice-president of HAN, strongly spoke for establishment of peace without which the economy would not be sustained. Shrestha said that only peace can help tourism and other industries. Political stability is also the need of the hour for a country like Nepal, he commented. Even for political stability, a ‘strong economy’ is crucial, opined Shrestha.

Rohini Thapaliya, fourth vice-president of FNCCI, informed that currently only 15 to 20 per cent capacity of manufacturing companies is being utilised in the production process. They are seriously in need of government’s help for their financial viability, said Thapaliya.

One of the biggest shareholder in the Nepali share market, Kuber Bahadur Shrestha, urged all concerned people of the country, whether they are from business or civil society, to repay the banks’ loan and support the government. Government officials should work for effective service delivery and control corruption, he suggested.