KATHMANDU, AUGUST 3
Chandra Prasad Dhakal, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has shared his insights on the significant accomplishments during the first 100 days since taking the helm of the largest private sector umbrella organisation.
President Dhakal highlighted FNCCI's commitment to address and improve the prevailing economic situation despite the challenging conditions.
"One of the major challenges was the slump caused by rapid post-COVID reforms, which affected not only the private sector but also the government and the general public. The government's revenue witnessed a significant decline, while inflation averaged around seven per cent in the past year. This economic downturn highlighted the neglect faced by the private sector."
However, FNCCI President Dhakal assured that with the support of the government, private sector, and all stakeholders, FNCCI is determined to chart a course towards a brighter future for the nation by revitalising the economy and fostering stability and progress.
During this challenging economic period, he informed that FNCCI actively engaged in research, published studies, and participated in international forums to showcase its dedication to fostering economic reforms.
Moreover, he said that FNCCI criticised certain provisions of two bills passed by the National Assembly that aimed to subject the private sector to the jurisdiction of the Commission for the Investigation of Abuse of Authority.
"In response to FNCCI's concerns, the bills were referred to the committee for further discussion."
He informed that during Prime Minister Pushpa Kamal Dahal's visit to India, FNCCI played a key role in organising the Nepal-India Business Summit for the first time in India through a joint initiative with the Confederation of Indian Industry as the partner organisation. Additionally, at the BIMSTEC Business Conclave in Kolkata, India, FNCCI President Dhakal said that he presented the concept of the BIMSTEC Business Forum, gaining support from other chambers in the region.
Likewise, during his 100-day tenure, FNCCI President Dhakal successfully fostered collaboration with other private sector organisations, including the Confederation of Nepalese Industry and Nepal Chamber of Commerce, leading to the joint submission of suggestions for the Monetary Policy to address prevailing economic challenges.
He said that the private sector had high expectations for the Monetary Policy, but unfortunately, it fell short in addressing their concerns. To address these issues, FNCCI President Dhakal mentioned engaging with the government and international agencies, such as the International Finance Corporation, to cooperate on infrastructure development and support small and medium enterprises in Nepal.
"FNCCI's key priority is to focus on delivering tangible results rather than merely announcing plans. We are actively engaging with media, councils, committees, and forums to achieve our objectives. Strengthening the Federation Secretariat is another important goal, where transparency in accounting and administration has been achieved through software integration, linking all provinces with the central accounting system. Similar software will be installed in districts handling certificates of origin to ensure a clean and transparent system."
A version of this article appears in the print on August 4, 2023, of The Himalayan Times.
