17 August 2024, Kathmandu
The Federation of Nepal Chamber of Commerce and Industry (FNCCI) has expressed its support for the Ministry of Finance’s decision to include the formation of a high-level Economic Reform Commission in its 100-day program.
Federation of Nepal Chamber of Commerce and Industry
This move is seen as a positive step towards addressing the challenges facing Nepal’s economy and fostering sustainable development.
The FNCCI has long advocated for the establishment of a commission dedicated to coordinating economic reforms. The federation’s proposal to the government emphasized the need for such a body due to the existing lack of coordination among economic sectors, the limited involvement of the private sector in policy-making, and the urgent need to ensure both immediate and long-term economic sustainability. The inclusion of this proposal in the Ministry of Finance’s priorities has been met with appreciation from the business community.
Federation President Chandra Prasad Dhakal expressed gratitude to the Finance Minister and the government for recognizing the importance of this initiative. He highlighted that the formation of the Economic Reform Commission would facilitate better coordination and integration of private sector insights into the national economic agenda, ultimately contributing to sustainable economic growth.
In addition to welcoming the commission’s formation, the FNCCI has proposed a system for its operation that emphasizes efficiency and cost-effectiveness. Dhakal stated that the commission should operate frugally, ensuring that resources are utilized effectively to achieve the desired economic reforms.
The establishment of the Economic Reform Commission is expected to play a crucial role in addressing the structural challenges within Nepal’s economy, paving the way for a more coordinated and sustainable approach to economic development. The FNCCI remains committed to working closely with the government to ensure that the commission fulfills its mandate and delivers tangible benefits for the nation’s economy.
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Federation of Nepal Chamber of Commerce and Industry
