Private sector wary about recent developments

KATHMANDU, DECEMBER 23

Private sector associations have expressed their concern over the recent political developments in the country.

The three private sector associations — the Federation of Nepalese Chambers of Commerce and Industry, the Nepal Chamber of Commerce and the Confederation of Nepalese Industries — have issued a joint statement today expressing concern over current political developments.

Stating that the recent developments will not benefit the country’s economy, all three associations have urged the major political parties to take a restrained decision.

“No one should forget the fact that only political stability can lead to policy stability, create conducive environment to set up new industries, for new businesses to flourish, jobs to be created, new investment to be attracted and the economy as a whole to be able to move forward,” the joint statement reads.

At a time when the economy is being severely affected, the private sector is concerned that the consequences of the recent political issues could be even more serious.

The private sector has also stated that the political instability will further complicate matters and the country’s economy will be directly affected by these problems.

Stating that it will have a serious impact on the economy and the livelihood of the people, the private sector has suggested that the political parties should be serious in taking the country towards stability.