FNCCI for creating investment-friendly environment

Published On: June 27, 2017 09:10 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, June 27: A delegation of Federation of Nepal Chamber of Commerce and Industry (FNCCI), led by its President Bhawani Rana, paid a courtesy call on newly appointed Minister for Finance, Gyandendra Bahadur Karki, on Monday. 

During the meeting, FNCCI President Rana requested Minister Karki to create enabling environment for business and investment. Urging the government to protect private sectors' investment, she requested the government to bring stable policy and create investment friendly environment in order to attract foreign investment in the county. 

She also apprised Minister Karki of the problems that industrialists have been facing since long.

FNCCI has demanded that government provide industrialists loans at low interest rate, reduce the current spread rate of bank and financial institutions (BFIs), scrap the provision of furnishing deposits while applying at revenue tribunal, and make amendment to the Revenue Tribunal Act 2031 BS.

Issuing a statement, FNCCI said that Rana demanded that the government promote manufacturing industries to reduce trade deficit. Promoting exports and increasing capital expenditure were the other recommendations made by the FNCCI.

Responding to FNCCI, finance minister Karki made it clear that he will prioritize formation of self-reliant economy. He also expressed commitment to work closely with industrialists to achieve economic prosperity. 

Finance Secretary Shanta Raj Subedi, and FNCCI Vice-President Chandra Prasad Dhakal, Treasurer Gyanendra Lal Pradhan, and Executive Members, as well as FNCCI General Secretary Suresh Man Shrestha were also present at the program.

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