“Narendra Basnet, senior vice president of CNI, will take charge. The formal handover will take place in the 10th AGM starting Friday,” said Chaudhary. [break]
Talking to Republica, Chaudhary expressed happiness over this efforts and success in being able to establish CNI as a think-tank and indispensable force in the Nepali private sector. Chaudhary said he was glad CNI played its due part in advancing the agendas of economic growth and prosperity, but lamented over political instability and other disturbances that affected the country from realizing its goals.
Chaudhary also expressed his disappointment over the government´s apathy toward nurturing and facilitating the development of the country´s private sector.
By intervening in the market time and again, the government has left the private sector confused about the real intention of the government. He mainly expressed sadness over red-tape and unresponsive nature of the bureaucracy. "In other countries bureaucracy is very responsive and supports the private sector even in times of political instability. Sadly, that has never been a case here," said Chaudhary.
Hari Bhakta Sharma, executive board member of the CNI too expressed similar views when he addressed the press on the eve of the 10th AGM of Confederation on Thursday.
“The private sector in Bangladesh and Sri Lanka have performed well despite odds and political upheavals because the governments there have been very supportive,” said Sharma.
CNI expressed concerns over consistent decline in the performance of the manufacturing sector. According to statistics compiled by the Ministry of Finance (MoF), contribution of manufacturing sector have declined to 6.2 percent -- the lowest in a decade -- in the gross domestic product (GDP) in the fiscal year 2011/12 .
CNI members cautioned that the situation could turn worse, mainly as the manufacturing sector is bearing the brunt of political instability, severe power shortage and labor unrest.
"The labor cost in Nepal is the highest in the South Asia. Severe power shortage have made matters worse. In such context, how will the industries perform better," said Narendra Basnet, senior vice-president of CNI.
CNI has announced that its 10th AGM will focus on numerous issues. It is also organizing a special session on ´social business and corporate world´, which will be addressed by Professor Muhammad Yunus, Nobel Peace Prize winner of 2007.
"Yunus will be interacting with representatives from different sectors and delivering his views on how microfinance can contribute to economic development," Sharma said, adding that Yunus´ rich experience would help Nepal outline some strong strategies toward economic development.
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