Kathmandu, September 17

The private sector of the country hailed the endorsement of the new statute from the Constituent Assembly with an overwhelming majority on Wednesday.

Private sector players have said promulgation of the new constitution will rid the country from nearly a decade-long political transition and instability.

“Promulgation of the new constitution that is scheduled for Sunday (September 20) will create a conducive environment for investment in the country,” said Pashupati Murarka, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

“Delivery of the new constitution will convey a positive message all over the world and boost the confidence of investors.”

After emerging from the armed-conflict in 2006, the country had been in nearly a decade-long political transition. The transition is finally drawing to a close with issues associated with the peace process and constitution writing process coming to a conclusion.

These achievements, as per the private sector leaders, will lead the country towards peace and stability that are prerequisites for security of investment.

Private sector organisations, namely, FNCCI, Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce have also appreciated the role played by lawmakers for the timely delivery of the new constitution despite facing various hurdles.

Issuing a statement, FNCCI has said that the new constitution will be a milestone in institutionalising the achievements of the Peoples’ Movement II and restoring peace and stability. “The constitution has encouraged the private sector by incorporating all the suggestions provided by the private sector in the draft charter,” said the federation.

FNCCI has also laid emphasis on the need for all the political parties and the government to give top priority to the economic agenda. “As the country has targeted to graduate to the league of developing nations by 2022, the government needs to focus on attracting investment, basically in infrastructure to meet the huge infrastructure deficit,” FNCCI said in its statement, adding, “The private sector is always committed to supporting the government from every aspect.”

FNCCI has also requested the agitating Tarai-based parties to resolve their issues through dialogue and end all types of strikes and ongoing protests in the region, which has continued since a month.

FNCCI has also announced that it is celebrating the historic day of September 20 by organising a candle lighting ceremony at its district and municipal level networks, commodities associations, bi-national chambers, industries and business houses.

Likewise, CNI has also expected that the economy will be in top priority of the country along with the promulgation of the new constitution.

“CNI expects that policy predictability along with the delivery of the new constitution will attract more investment into the country,” said CNI. It has also requested the major political parties to

resolve the issues raised by the Tarai-based political parties for the greater benefit of the country.