Nepal | November 19, 2018

Govt seeks constructive role of pvt sector

Pushpa Raj Acharya
Deputy Prime Minister Prakash Man Singh addressing an inaugural function of FNCCI’s special general meeting in Kathmandu, on Friday. Photo: THT

Deputy Prime Minister Prakash Man Singh addressing an inaugural function of FNCCI’s special general meeting in Kathmandu, on Friday. Photo: THT

KATHMANDU: The government has sought a constructive role of the private sector in the reconstruction and development works of the country, as the reconstruction work of the damaged properties as well as new infrastructure projects are in the pipeline for implementation.

In the post-earthquake scenario, massive construction works have been planned to rebuild the properties damaged by the devastating earthquake within five years.

At a special general meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) held in the Capital on Friday, the government called on the private sector to join hands for reconstruction activities.

Addressing the special general meeting of the largest private sector umbrella body of the country, Deputy Prime Minister Prakash Man Singh said that there are many projects that could be implemented through public-private partnership. He added that there are projects that could be implemented with the sole initiative of the private sector through build, own, operate and transfer (BOOT) model. “The government warmly welcomes the private sector to take the initiative to rebuild the nation.”

Minister Singh further informed that the second Constituent Assembly (CA) has done its best to deliver a new constitution and the first draft has already been promulgated to gather public opinion and have further discussions in the CA. He further clarified that though the new constitution could not be delivered within the stipulated time of January 22 this year, it will be delivered at the earliest.

“Delivery of the new constitution will end the decade-long transition and create an environment for more investment from both domestic and foreign investors that will lead the country towards higher growth trajectory,” according to Singh.

He also assured the FNCCI members that their suggestions would be duly considered in the new budget.

The FNCCI has urged the government to identify their role in the reconstruction and rebuilding process and cooperate with local industries while procuring the required reconstruction materials. Likewise, they have sought a stable interest rate for at least two years and also requested the government not to levy new taxes so that they can run their businesses smoothly.

Due to the slackness in demand caused by the earthquake, many businesses are suffering from a cash crunch. Taking this situation into account, FNCCI has sought for a stable interest rate from banks and financial institutions and other policy interventions from the government to cope with the newly emerged challenges.


A version of this article appears in print on July 04, 2015 of The Himalayan Times.


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