Kathmandu, March 1:

Once known as opponents, two major business associations, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have agreed to join hands to raise issues of mutual concern.

FNCCI and CNI reached an understanding to work together to advance the common agenda of the private sector after a meeting between senior business leaders including FNCCI president Chandi Raj Dhakal and CNI president Binod Kumar Chaudhary on Wednesday.

As per the understanding, both business bodies have agreed to work together as per the joint strategy on issues such as Terai agitation and its impact on industry and economy, load shedding problem, industrial labour disputes and the government’s decision to confiscate passports of 80 businessmen for defaulting bank loans.

In a statement issued jointly after the meeting, the two business bodies have stated that they had expected better days for the private sector and economy after the signing of peace pact, which could not materialise.

“The two institutions have decided to become united because unless major problems of industrial sector are resolved, the economy will be affected and, ultimately, the private sector will collapse,” said the statement.

As per the understanding, a joint meeting of entrepreneurs, economists and industrialists is due to be organised soon in order to hold an extensive discussions on a series of issues including impact of load shedding, Terai agitation, labour dispute and the government’s policies and programmes.