Regulators need to understand, strengthen for competive business environment

Understanding business needs and hearing the business voice is important to better regulation as one cannot regulate what one does not understand, according to the experts.
At the time when the drinking water bottlers to gold traders to private dairies have been opposing the government regulation in the name of free market, the experts suggested to make the regulator strong to better function the free market economy and increase competitiveness in the market for better quality products. “Regulation is not only for the welfare of the people but also for better business environment,” they said. 
Better regulation will support economic growth, protect the environment, including tackling the impacts of climate change, ensure clean and safe neighbourhood, prevent ill health and harm and promote public health and ensure a safe, healthy and sustainable food chain, said deputy director of Better Regulation Delivery Office, UK, Kate Fletcherm at a national workshop ‘Improving Regulatory Quality and Effectiveness in Nepal’ organised by South Asia Enterprise Development Facility in collaboration of the government, here today.
“Better regulations were instrumental in promoting fair completion, make it easier to start up and run businesses, create new jobs and improve the health of the community,” she said, adding that strengthening the capacity of regulators is thus key to ensure greater welfare of the general people.

“Nepal’s regulatory bodies are lacking in capacity to ensure food safety standards which require harmonisation and updating,” said Regulatory Enforcement and Inspection Expert of the World Bank Group Lars Grava, on the occasion.
Poor food safety conditions in Nepal has been estimated to cost at least an additional $11 million for travelers except a loss of two to seven days out of their travel in Nepal, according to a finding.
The problems in food, aviation, construction and environmental protection are due to lack of private investment, training, consumer awareness, adequate regulatory standards and a weak enforcement of regulatory inspections, he said, adding that these factors have been directly and indirectly affecting tourism sector.

Likewise, chief executive of Better Regulation Delivery Office, UK Graham Russell, on the occasion said that good regulation is choosing the right methods to move from risk to outcomes. “It will benefit not only the consumers but also economy,” he said, adding that inspection is necessary to improve the way things we do. “Regulator must also train the consumers so that consumers themselves be the inspectors making the regulatory environment better for better and safe quality products.”