Local polls will give momentum to economic growth: PM

Published On: April 11, 2017 11:15 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, April 11: Prime Minister Pushpa Kamal Dahal has said that upcoming election for local bodies will clear all the hurdles seen at the local level and give momentum to economic activities.

Inaugurating the 51st Annual General Meeting (AGM) of the Federation of Nepalese Chambers of Commerce and Industry in Kathmandu on Monday, Dahal said that election would remove all the constraints affecting economic growth at the local level. “The election for local bodies, which is being held after a gap of two decades, will give a momentum to economic growth at the local level,” added Dahal.

He also claimed that the government would soon take key decisions to create an environment for the local level election by ensuring participation of agitating Madhes-based parties. 

At the program, Dahal also said that the private sector will not have to pay taxes to all three tiers of the government for a single business or product. “I have come to know that there is confusion among private sector regarding the new federal set up. Rest assured that the government will make needful arrangement to avoid any duplication in taxation,” said Dahal.

Stating that both the government and the private sector were concerned by slow growth of manufacturing industry, Dahal urged the private sector to prioritize rural areas while expanding service and manufacturing industries. 

Dahal also claimed that the government was trying to remove administrative hurdles that the private sector has been facing by creating enabling environment through formulation of necessary laws like the Industrial Enterprise Act, Special Economic Zone (SEZ) Act and Bank and Financial Institution Act (BAFIA), among others. He also urged the private sector to brainstorm on ways to bring down ballooning trade deficit. 

Similarly, FNCCI President-elect Bhawani Rana said that the government should work to attract foreign direct investment in the country.

Likewise, FNCCI also honored its past presidents for their contribution to the organization.
The 51st AGM of the leading professional body of the private sector will elect a new executive committee. Shekhar Golchha and Kishor Pradhan are vying for the post of senior vice-president. According to the FNCCI statute, the senior vice-president will be automatically elevated to the post of president after three years. 

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