Kathmandu. KATHMANDU: The Nepali Congress has included in its affidavit the demands that the private sector has been raising since long. For a long time, the private sector has been demanding to remove the policy of detention and hearing.

In the manifesto made public today, the NC has pledged to end the unjust tradition of ‘lock up first and listen’ and implement the principle of natural justice in letter and spirit in the business sector. It has also said that the insolvency laws, profit withdrawal and exit process will be made easy and transparent.

Similarly, a simplified digital system would be implemented to make all processes from registration to renewal of industries paperless and hassle-free, and a ‘fast-track’ tribunal would be set up for quick resolution of cases related to business and investment. Likewise, it plans to create a predictable labour environment for both employers and workers through the practical use of ‘No Work, No Pay’.

The government has decided to merge the Investment Board and the Department of Industry to establish a ‘Transparent, Powerful Investment Promotion and Protection Board’. It has a plan to make necessary policy and legal arrangements to make the existing Special Economic Zones effective and to ensure the operation of at least one Special Economic Zone in each province.

It has stated that the informal economy would be gradually formalized and facilitated by providing necessary knowledge, information and services, creating an environment of fear-free investment by formulating laws against media trial that defamed the industry and entrepreneurs, resuming the sick industries through capital restructuring, tax exemption and technology transfer or formulating an appropriate ‘exit policy’.

The affidavit also states that the government will make necessary legal arrangements to facilitate the recovery of the amount sold by the cheque, invoice or seller on credit, and provide relief to the middle and low income groups by not paying income tax on personal income up to Rs 10 lakh annually.