Take action against defaulters: FNCCI

Kathmandu, September 3 :

In the backdrop of the spiralling controversy surrounding the non-performing loans (NPL) of Nepal Bank Ltd (NBL) and Rastriya Banijya Bank (RBB) running into billions, Chandi Raj Dhakal, president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), today categorically said that the government should take action against ‘wilful’ defaulters.

He was speaking at the 11th annual general meeting of Advertising Agents Association of Nepal (AAAN). “However, entrepreneurs are under survival threat due to severe financial and other problems,” Dhakal said.

“Therefore they need to be rescued to keep the economy afloat. If the present environment continues for some time, entrepreneurs would fly away and the economy would be paralysed,” he feared.

“Entrepreneurs are closing down their industries due to financial problems and unfavourable environment to operate businesses,” Dhakal added. He also criticised the government for its irresponsibility. Dhakal also demanded facilities for the advertising industry at par with other industries. “In the issue of protecting national industries, the government, the Maoists and the Seven Party Alliance (SPA) are all hopeless,” he complained.

“Due to the lack of national policy, the advertising sector is reeling under various difficulties,” said Bhaskar Raj Rajkarnikar, president of AAAN, addressing the meeting. He informed that in 2011, Advertisement Asia event is being organised in Nepal which is a golden opportunity for Nepal to explore the advertising sector in a vibrant way. “Over 84 advertising agencies are involved in this profession currently,” he said.

Advertising agencies also demanded that political parties advertise through agencies so that the market would be more systematised. They alleged that Nepal Tourism Board (NTB) did not try to boost national expertise. It, instead, invited foreigners to design the logo for ‘Naturally Nepal’ campaign.