Private sector brings ethical code of conduct, says no to donation

The private sector has come up with ‘Ethical Business Code of Conduct’ and declared that they would not give donations to any political parties and people for the business and financial advantages.

"We uphold the principle that we must not give bribe, gifts and donations directly or indirectly for our business and financial advantage," reads the Ethical Code of Conduct concept paper prepared by the Nepal Business Institute (NBI).

"If such situation arises and we are forced to pay donation, we will lodge formal complaints with the concerned agencies,” it reads, stressing that they will give donation through cheque only, to promote transparency in the businesses and also the political parties.
The ethical business code of conduct – that aims at promoting good business practice in the country – has focused on consumer protection, tax and financial accountability, maintaining good labour relations, environment preservation, anti-corruption, and competition and market protection.

Chief of Interim Election Council Khila Raj Regmi, launching the ethical business code of conduct here today, assured government’s support in implementing the code of conduct.

“Government is committed to create industrial-friendly environment in the country," he said, asking the business community to stick to the ethics.

“It will pave the future path for good practices for business community," president of NBI Padma Jyoti said, on the occasion.

Though, the ethical code of conduct has stated that the business community would not support monopoly and unhealthy business practices, some of the controversial associations – like Nepal LPG Industries Association that had been involved in anti-competitive, anti-market and unhealthy business practices – have also committed to abide by the conduct.

They have expressed commitment to pay taxes on time, respect consumer rights, protect environment, and abide by the law to ensure competition in the market.