Kathmandu, January 12:

Special annual general meeting of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) called by members today ended by amending its existing constitution. As per the revised provisions, the tenure of the executive committee of the Federation has been extended to three years instead of the existing two years.

Businessmen associated with the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), an apex body of the business sector, held a special meeting today in which members stressed for amending the constitution taking a broader perspective, aimed at boosting business and economy, said Chandi Raj Dhakal, president of FNCCI who will be now be serving the Federation for three years.

The special AGM was held as per its earlier decision at the 39th annual general meeting of the federation held in Kathmandu during the month of July 2005.

Chandi Raj Dhakal, president of FNCCI, said that due to increased conflict and fragile political situation, the federation has not been able to perform as per expectations. He said that in the context of derailed peace, law and order, insecurity, political instability and deteriorating business environment, the business sector continues to struggle for mere survival.

As per its renewed constitution, a provision has been made to select the senior vice-president from among the executive committee members which was not provisioned earlier, according to FNCCI officials. Similarly, vice-presidents are going to be elected from various groups that can represent all sections of the business sector.

As per new provisions, formation of nine committees is a must, representing various business sectors to look after business and economy. However, more than 15 committees are not allowed, states the constitution.

Dhakal said that due to increased conflict and insecurity, businesspersons are facing unnecessary hurdles. Under such an environment, global and regional trading bodies namely World Trade Orgnaization (WTO), South Asia Free Trade Area (SAFTA), BIMS-TEC are being implemented which are bringing further challenges for us, he said.

The special annual general meeting of FNCCI was aimed at making the Federation more wide, vibrant and innovative by integrating concerned stakeholders’ through the amendment of the constitution as per the suggestions of past presidents, said Dhakal.

Dhakal hoped that the new constitution would move towards integrating all businesspersons across the country. Binod Bahadur Shrestha, former president of FNCCI, talking to The Himalayan Times said that the Federation is has amended its constitution as per the changed national and international scenario in business sector. He said that definite criteria is being developed to develop leadership from the district level and commodity and associate members.

The new constitution would discuss on decentralising power of FNCCI members and develop regional chamber of commerce and industry, targeting regional economic development to effectively mobilise business enterprises, said Shrestha.

Businesspersons from across the country participated at the special AGM.