Kathmandu. KATHMANDU: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has urged the government to extend the deadline by at least three years along with a re-evaluation of the issue of Nepal’s upgradation to the status of LDC.

Speaking at an interaction programme on ‘Nepal’s upgrading in developing countries’ organized at the National Planning Commission (NPC) on Monday, he said initiatives should be taken to extend the deadline. After a year, Nepal is going to be upgraded from the least developed country to the developing country in November 2083.

He said although it was a matter of happiness that Nepal would be upgraded from the list of poor countries, the policy makers and planners should be sensitive about the impact of the upgrading in Nepal.

Dhakal said that Bangladesh has already asked the United Nations for a re-evaluation and postponed the time after the recent agitation in Nepal. “I am confident that the government will take this sensitive issue seriously. “I urge the government not to take any decision that will have a serious impact on the production and employment of the private sector in the current situation,” he said.

He recalled that there were many challenges before Nepal as it was going to become rich without real income, and the decision to upgrade Nepal in 2021 was made before the per capita income was taken.

“Now the average income has reached the limit. There is no reason for us to be happy because the recent performance, low morale of businessmen, low demand, etc., have added risk to the economy,” he said.

Dhakal was of the view that the decision would have a major impact on the private sector and especially small entrepreneurs and women would be at risk of losing their jobs. “It is necessary to listen to those who are affected,” he said, adding that the government would be serious about the problems of the private sector as the FNCCI has been urging them time and again. ”

On the occasion, Dhakal said that the impact of strict conditions on the rules of origin under SAFTA has not been evaluated in the past studies and the impact of the two-stage production cycle on readymade garments has not been minutely considered.

She said that the problem is easily ignored by saying that GSP or GSP Plus is available in Europe, and Nepal needs to ratify the International Labour Organization Convention 87 for GSP. He pointed out that if the convention is endorsed, it will have a negative impact on Nepal’s labour relations. The federation said that it has already informed the Ministry of Labour and other concerned government bodies about this.