Kathmandu. KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed serious concern over the government’s arrest of industrialists, contractors and bankers in the name of investigation into various economic issues.

The tendency to arrest the top leaders of the private sector and the banking sector, which is the backbone of the economy, in a criminal manner has created panic in the overall business environment and has sent a negative message to investors and the business world.

The arrest of the bank’s CEO for collecting deposits of the general public and recovering loans based on public trust may affect the credibility of the banking sector. The decision making capacity of the banking sector regarding the flow of loans will also be affected and the contraction of investment will also have a negative impact on the overall financial system of the country.

The FNCCI has urged the government to carry out such investigations secretly and investigate and prosecute the cases that create civil liability on the industrialists as the government’s arrest of industrialists and media trial would also damage the reputation of the businessmen concerned.

Reminding the government of the right to live with dignity guaranteed by the Constitution of Nepal and the provision that no guilt would be considered guilty until the guilt is proved, the entire private sector urged the government to be serious about this.

The private sector is hoping that the economy, which has been sluggishing for the past four years, will become dynamic after the recent two-thirds majority government’s policy and business-friendly behavior. However, the FNCCI has appealed to the government to create an environment conducive for business confidence, with the desire that such activities will increase investment and investors should not be deprived of the issue of feeling secure.