FNCCI, CNI condemn govt action

Kathmandu, March 4

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) jointly issued a statement today condemning the government’s move of using the police to arrest and file cases against members of the business community under various pretexts.

In the statement, they mentioned that it had come to their notice that certain business people had been arrested on the charge of selling goods at a higher price.

FNCCI and CNI also said that the arrest of some management level people from Lomus Pharmaceuticals and Deurali-Janta Pharmaceuticals today for not reducing the price of medicines had disheartened the private sector.

The release also stated that at a time when the concerned companies were doing their level best to produce life-saving medicines when the country has been going through a tough economic situation, today’s arrest is highly regrettable. Such moves taken by the government creates a sense of fear and discourages the private sector, the statement added.

FNCCI and CNI, through the statement, have also drawn the attention of the government to the negative impact that such arrests could have on the investment climate of the country.

They have also stated that arresting people without substantial proof does not fall under the ambit of social justice. “There could be negative repercussions on the business environment of the country if business people who have invested millions of rupees and hold respectable positions in various business associations are arrested without notice and are not given the opportunity to clarify their arguments.”

The statement further adds that in a free market economy, the price of goods and services are based on demand and supply.

And government’s move of targeting particular businesses citing market monitoring is highly objectionable, FNCCI and CNI said.