‘Govt to advance private sector-friendly policy, boost business confidence’

KATHMANDU, May 27: Prime Minister Balendra Shah's political adviser and coordinator of the task force formed to prepare the constitution amendment discussion paper, Asim Shah, has urged the business fraternity to operate their enterprises with full confidence, assuring them that the government is moving ahead with a private sector-friendly policy.

He said this in the course of receiving suggestions from the industry, commerce and private sector on the issues concerning the constitution amendment at the Office of the Prime Minister and Council of Ministers on Tuesday.

On the occasion, Coordinator Shah shared the government's awareness that the country's economic development would not be possible without collaborating with the private sector.

Claiming that the government has not conducted raids targeting any particular businessperson, he clarified that legal action is being slapped only against those involved in serious criminal activities and actions harming the state.

“No instructions have been given by the Prime Minister's Office, the Home Ministry, or any other agency regarding whether someone should be arrested. The system is functioning impartially,” he claimed.

“Entrepreneurs and businesspersons do not have to pay any donation to anyone to run their business. If there is any coercion from party or government officials, inform us. Work confidently and honestly," Shah added.

He mentioned that the government is preparing a private sector-friendly budget and that the upcoming budget will make the business environment smooth. 'The government is preparing to reduce cumbersome administrative procedures through a 'one-stop system,” he noted.

Shah mentioned that policies related to production, investment, industry, and business are being improved and also expressed the notion that the private sector will be involved in every project. The government is preparing to adopt the 'BOT' and 'PPP' models to increase private sector participation in large projects, he shared.

Shah indicated that programmes for tax exemptions, facilities, and relief could be introduced. However, for this, the private sector must also assist the government.

He clarified that suggestions received from participating industrialists and businessmen in the discussion will be prioritized during the preparation of the discussion paper.

Acknowledge private sector as key economic partner of the State – Businesspersons

The participants also presented suggestions for constitutional amendments and economic reforms.

Their opinion was that the private sector perceived constitutional amendments not merely as a political issue but as an opportunity to implement economic reforms, secure investments, ensure legal clarity, promote good governance, and change the perspective toward the private sector.

They stated the need for economic stability, an investment-friendly environment, legal clarity, good governance, and a respectful approach toward the private sector.

Similarly, they suggested that since the term 'socialism-oriented system' in the constitution's preamble is ambiguous, it should be written as 'competitive, open, and innovation-oriented market economy'.

They also univocally recommended granting constitutional recognition to the private sector as the key economic partner of the state.

The business fraternity also demanded the removal of hassles of taking permissions from multiple agencies for the operation of projects or businesses, presenting that the processes related to investment approval, land, environment and forest be fast and clear.

The participants in the discussion included representatives from industry, commerce, and the private sector.

Those airing views on the occasion were Divyamani Bhandari, Anjan Shrestha, Arun Chaudhary, Dr. Upendra Mahato, Ravi KC, Shivratna Sharda, Deepak Malhotra, Rajesh Kaji Shrestha, Rajubabu Shrestha, Sureshlal Shrestha, Bijaya Rajbhandari. Anand Bagariya, Pradeep Shrestha, Kush Kumar Joshi, Bhawani Rana, Suraj Vaidya, Shashi Agrawal, Surahit Jyoti, and Prakash Dotel.

Likewise, Shatish Sharma, Sudip Acharya, Dr. Rajendra KC, Yogendra Shakya, Sher Singh Shrestha, Suman Pande, Hemant Golcha, Deepak Dahal, Shankar Ghimire, Cabinet Shrestha, Hemraj Dhakal, Sangeeta Shrestha, Jyotsna Shrestha, Birendra Raj Pande, and Haribhakta Sharma had also provided their recommendations.

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