Gautam urges bank loan repayment

Kathmandu, October 19:

Kul Chandra Gautam, assistant secretary-general of the United Nations and deputy executive director of UNICEF today said that private sector will be the key sector for new Nepal in the context of post-conflict environment. He also urged the business community to pay the bank loan.

“Nepali corporate sector could play a significant role for a prosperous Nepal in an atmosphere of market-driven competition,” said Gautam while addressing at a programme organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) in the capital today.

He said that the job of the government is to invest in key basic social services and infrastructure, provide a fair and transparent regulatory framework, and create a conducive environment for ordinary citizens, farmers, businessmen and industrialists to use their latent human entrepreneurship to meet consumer demands for goods and services.

He was of the view that rule of law in Nepal is extremely weak and, extortionists demand for forced-donations by cadres of a political party and double taxation have hit the business sector. Gautam said that the business community has the legitimate right and responsibility to demand and expect that all arbitrary, extortionist, lawless actions be stopped at once. At the same time, he said that the business community has its own responsibility also. He said that he would, therefore, like to see FNCCI taking a stronger stand that all banks loan defaulters payoff their debts promptly.

“It is unconscionable that well-to-do businessmen, industrialists and investors abuse the banking system and get away with impunity, while small borrowers are deprived of small loans and penalised for delayed payment,” said Gautam.

Chandi Raj Dhakal, president of FNCCI said that business sector has been hit hard due to increased criminal activities, attack by sister organisations of political parties, increased extortion and forced donations.

“These sorts of activities compelled us to hold Nepal bandhs for a day demanding for total and lasting peace in Nepal at a time when there is a ceasefire between the Maoists and the government,” Dhakal said.