Kathmandu. President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, said that the morale and confidence of the private sector was the need of the hour for revitalization of the country’s economy.

Inaugurating the 11th annual general meeting of Nawalpur Chamber of Commerce and Industry here today, Dhakal said that it would be difficult to revive economic activities until the morale of the private sector was boosted due to political instability, intolerance and confusion.

Expressing concern over attacks on private sector industries and businesses in course of every agitation, Dhakal expressed the view that such situation would further weaken the investment climate. Stating that there is more negative publicity than discussion about the contribution made by entrepreneurs in Nepal, he said such kind of perception needs to be changed.

“The private sector that creates the highest number of jobs in the country and contributes to the revenue is the target of every movement,” he said. Henceforth, the message should be disseminated publicly that there should be no arson and vandalism in the private sector during any demonstration or movement. Dhakal said.

Dhakal stressed that impunity should not be answered in the context of illegal intrusion during the demonstration on September 23 and 24 leading to fire, looting and loss of billions of rupees to the bedrooms of industrialists and entrepreneurs.

Stating that many policy reforms have been made at the initiative of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), he said that there are immense possibilities in Nepal and opportunities should be created in the country itself. Stating that only foreign direct investment (FDI) should not be looked up for big infrastructure projects in the country, he stressed the need to utilize the capital scattered in the country for integrated infrastructure development and entrepreneurship development.

According to Dhakal, works have been started by establishing Nepal Development Public Limited with a capital of Rs 10 billion at the initiative of FNCCI so that there would be no shortage of capital for big infrastructure development and other enterprises. He also expressed the view that collaboration could be made for the operation of Dhauwadi iron mine in Nawalparasi.

Stating that the government has included the FNJ representative in the District Security Committee at the request of the FNJ, he urged the district leadership for effective participation in it. Dhakal stressed the need of implementing the huge potentials of agriculture, tourism, energy and small and medium enterprises in Nawalpur district.