Kathmandu. Finance Minister Rameshwor Khanal has said the government was effortful to boost the morale of the private sector.

During the meeting with President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Prasad Dhakal, President of Confederation of Nepalese Industries (CNI) Birendra Raj Pandey and President of Nepal Chamber of Commerce Kamalesh Kumar Agrawal, Minister Khanal said that this was the view of the Minister during the meeting.

The government has announced revenue waivers, banking concessions and insurance facilitation programmes for the reconstruction. Transparent transactions will be promoted in the market after the introduction of an online database system at the customs by abolishing the reference price.

The presidents of the representative organizations of the private sector praised the government’s move. The three organizations have urged members and entrepreneurs to make use of the new database process as per the demand of the private sector. The system inaugurated by Finance Minister Rameshwor Khanal on September 24 is expected to address the complaints of entrepreneurs regarding the reference book that will be revised every 6 months.

In this method, the price details of all the goods that have been tested will be collected. According to the government, it is a digital resource that can be analyzed and compared with the goods that have come through customs clearance. This helps in identifying the transaction value.

During the meeting, they said that the intrusion of youths during the movement for positive change has attacked the private sector, which accounts for 81 percent of the economy and 86 percent of the employment, which has discouraged the industrialists.

He drew the government’s attention towards the immediate legal action as the private sector would be further discouraged if action was not taken against those involved in such infiltration, looting and arson. Stating that the private sector would continue to maintain zero tolerance against corruption, the chairpersons said that the government should also create environment conducive for the industrialists and entrepreneurs to work without any hindrance.

Stating that the government was addressing the demands of the private sector as soon as possible, the chairmen also urged the private sector to do business honestly and follow the business code of conduct.

Stating that although election is the main goal of the incumbent government, it is also an opportunity to lay the foundation for reforms, they stressed on the need of convincing all stakeholders by organizing a multilateral finance conference with the participation of the private sector to attract investment and other resources. They said the private sector was ready to cooperate and cooperate to hold the election on time as the election would strengthen the open market and democratic system.