Kathmandu. KATHMANDU: Businessmen including the president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have been required to submit their property details to the government.

The government has formed a Property Investigation Commission (CIAA) to investigate the property of a person appointed by the public since 2063 BS. The representatives of the private sector have to submit details to the commission formed by the government.

Some of them have already submitted their details while some are in the process of submitting them, according to sources. As per the provision made by the commission, Anjan Kumar Shrestha, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), and other expenditures have to submit their property details.

According to the commission, office-bearers and members of public corporations, authorities, boards, funds, government-owned banks and financial institutions, universities, councils and other bodies owned or controlled by the government must submit their property details. According to the same provision, businessmen (representatives) representing the private sector in various public bodies will have to submit property details.

The private sector has representation from the private sector in the Securities Board, Kathmandu Upatyaka Khanepani Limited (KUKL), Nepal Telecom, NEPSE and other bodies. Some of these bodies are also nominated by the government. Among those who have submitted the details to the commission are the presidents and former presidents of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

The president and former presidents of the federation have already become directors of the Securities Board of Nepal (SEBON). They will have to submit the details to the commission. Former Vice-President Hemraj Dhakal, former President Chandra Dhakal, Kush Kumar Joshi, Prati Jung Pandey, Shekhar Golchha, Dinesh Shrestha and former Director General Gokarna Awasthi have been appointed as directors of the board. They will have to submit the details to the commission.

Businessmen representing the private sector in various regulatory bodies are required to submit their property details to the government. President of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Anjan Shrestha, senior vice-president Sur Krishna Shrestha, former director-general Gokarna Awasthi and former vice-president Hemraj Dhakal have to submit their property details. Former president of FNCCI Chandra Dhakal is required to submit details of his assets. Similarly, Kush Kumar Joshi, Pratipajung Pandey, Dinesh Shrestha and Shekhar Golchha have also been asked to submit their properties.

Likewise, Kamlesh Kumar Agrawal, president of Nepal Chamber of Commerce (NCC), has been elected as the chairman of Kathmandu Upatyaka Khanepani Limited (KUKL). Chamber former president Suresh Kumar Basnet has also been appointed as the president of KUKL. They will also have to submit property details.

Similarly, the directors represented by the Institute of Chartered Accountants of Nepal (ICAN) in SEBON will also have to submit the property details. Incumbent chairman Nil Bahadur Saru Magar and others have to submit their details.

Similarly, the directors representing the general public in Nepal Telecommunication Company (NTC) are also required to submit their property details. Currently, Manish Jung Joshi is the director of the company. Prior to this, central member of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Ambika Prasad Poudel was the general manager of Nepal Telecom.

Similarly, the property of Sudhir Gyawali, who is a director of Hydroelectricity Investment and Development Company Limited, is also likely to be investigated. He is a hydropower entrepreneur. He and other directors also have to submit details.

Similarly, former chairpersons of Nepal Stock Exchange (NEPSE) Hemanta Basyal, former CEO Krishna Bahadur Karki and Chandra Singh Saud are required to submit details of their assets.

Former Chairman of Nepal Bank, Prof. Dr. Dilliraj Sharma, former Chairman of Rastriya Banijya Bank, Dev Kumar Dhakal, Board of Directors and CEOs and Chairman of Agriculture Development Bank, Dim Prasad Poudel, Directors and CEOs and other high-level officials and employees are required to submit their property details.

The private sector has expressed dissatisfaction over the government’s decision to make it mandatory for the representatives of the industry and business sector to submit their property details as experts or representatives of the private sector.

Kamlesh Agrawal, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI), and Nepal Chamber of Commerce (NCC), said that officials of the Federation of Nepalese Chambers of Commerce (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) held discussions on the issue.

The businessmen participating in the discussion were of the common view that it would not be appropriate to force people who have not held political appointments or positions of direct profit to submit their property details. They had also demanded the removal of this provision in a meeting with the Finance Minister. But the government does not want to listen.

Agrawal, president of the Chamber of Commerce, said that the private sector has demanded the government to correct the decision of the representatives of the industry and business sector to submit their property details. Finance Minister Dr. Agrawal said that in a letter sent to Swarnim Wagle, he demanded that this provision be removed as the post is not political and not an office of profit.