Tuesday, January 8, 2013

FNCCI asks government to address forceful donation, extortion

The umbrella organisation of the private sector has asked the government to address the forceful donation drive and extortion, and provide security to their businesses and property.
"The government should fix a minimum donation amount by bringing an Act, if necessary," said president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Suraj Vaidya, here today.
"The private sector is committed to promoting ethical business practices but the problem starts with donations itself, as it cannot be mentioned in their books," he said, adding that the Act will help entrepreneurs write the donations in the book. "Likewise, donations must not be forceful or negotiated as is happening currently. It should be based on the donor's wish and capacity, and not on physical or mental force that have been determining the donation amount."
Earlier too, entrepreneurs had asked the government to let them write donations in their books and reduce taxes.
"Increasing incidents of extortion and forceful donations have threatened entrepreneurs," said Vaidya, citing the recent attacks on bankers and industrialists. He also urged the government to bring the culprits to book immediately.
The prolonged transition has also increased incidents of forceful donations and physical attacks that have discouraged the industries, pulling its contribution to the gross domestic product down to 5.9 per cent from 10 per cent.
Political parties should work hard to end the current political transition as soon as possible as it has been hurting business confidence against the private sector's expectations that the end of the conflict would help the economy progress, Vaidya said, asking the government to make economy a basis for political consensus.
"The government should ban strikes in industries until the country gets a new constitution and it must work to end load-shedding within five years by implementing FNCCI's suggestion," he said.
The government should help increase competitiveness of the industries by reducing load-shedding hours, said FNCCI vice president Pradeep Jung Pandey. "Encouraging industries will help increase manufacturing activity," he added. 

Nepal Inc to brand country
KATHMANDU: Nepal Inc is planning to brand the country as a preferred investment destination. "Federation of Nepalese Chambers of Commerce and Industry (FNCCI) will promote investment in the country for employment generation," said FNCCI president Suraj Vaidya. "FNCCI will organise the India Week — during the second International Trade Fair — to attract Indian investment in the country and expand the market for domestic products," he said, adding that it is also planning to organise a roadshow in India and China to attract investment and popularise Nepal Investment Year 2012-13. "The road show in China will help promote tourism and alternative energy, where as in India, it will help expand Nepal's market and attract investment as India is the largest foreign investor in the country. Besides seeking foreign investment, the private sector will also conduct a study on measures to increase exports to over Rs one billion and also expand the domestic market."

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