Federation Submits Policy Demands to Political Parties, Citing Economic Distress
Summary
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged political parties to incorporate private sector demands to revive Nepal's economy, proposing reforms in investment, tax, and business operations.
Key Points
- FNCCI highlighted the private sector's critical role in the economy, contributing 81% to GDP and 86% to employment.
- The Federation demanded a 'Private Sector Protection and Promotion Plan' and declaration of industries as 'Peace Zones' to prevent violence.
- Requests include postponing Nepal’s LDC graduation by three years due to economic slowdown and recent protests.
- The FNCCI proposed tax reforms, ease in business registration, extension of tax exemptions, and promotion of startups to stimulate economic growth.
