Kathmandu. A delegation led by President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal met with Finance Minister Dr. The meeting also held a meeting with Dr Swarnim Wagle at the Ministry of Finance today and discussed the contemporary economic issues.

During the discussions, the FNCCI team welcomed the government’s decision to accept and implement the recommendations presented by the High Level Economic Reform Suggestion Commission for the second phase of economic reform as per the request of the FNCCI.

On the occasion, FNCCI President Dhakal said that the FNCCI welcomed the government’s initiative for reforms in order to address many demands of the private sector from the very beginning.

Stressing that the government’s policies, programmes and budget should be private sector-friendly, he stressed the need of mobilization of internal and external capital for the country’s economic development and prosperity. According to him, a Rs 10 billion Nepal Development Company has been established under the leadership of FNCCI with the realization that something could be done within the country by mobilizing internal capital.

He also suggested that the government should take initiative to postpone Nepal’s upgrading period in the context of the country still in the transition and neighbouring country Bangladesh has also taken initiative to postpone the time for the promotion.

In response, Finance Minister Dr. On the occasion, Swarnim Wagle said that he has taken the suggestions of the private sector positively and the government was committed to bring structural reforms, policy clarity and effectiveness in its implementation. According to him, he has decided to repeal 15 different laws as soon as he assumes office based on the recommendations of the high-level commission.

He also said that he was positive that the initiative should be taken to postpone the deadline of LDC graduation but internal preparations should be made for the promotion till that time. Stating that economic reform would be forwarded as seen in the upcoming policy, programme and budget, Finance Minister Wagle expressed the view that the incumbent government would mobilize the economy through continuous dialogue and collaboration with the private sector.

Outgoing chairman Shekhar Golchha said political and policy stability was expected from the majority government and stressed the need of restructuring of institutions like the Revenue Tribunal. He also urged the government to be aware of the impact of the crisis in the Middle East on Nepal.

On the occasion, senior vice-president Anjan Shrestha stressed on the need of giving priority to the country’s economy while formulating the foreign policy. He also stressed the need of policy stability friendly to the private sector for economic development and job creation.

FNCCI Vice-Presidents Hemraj Dhakal and Jyotsna Shrestha and Treasurer Bharat Raj Acharya urged the Finance Minister to take necessary initiatives in this regard. They also urged the government to bring a special package for the protection, facilitation and revival of small and medium enterprises (SMEs) which have been severely affected by the current economic slowdown.