Private sector urges government to bring Industrial Enterprise Act immediately

Private sector has urged the government today to immediately bring Industrial Enterprise Act through ordinance.

Calling on finance minister Shanker Prasad Koirala, who is also industry minister, today in his office, the private sector representatives asked him to immediately promulgate the Act through ordinance to protect the industries that are on the verge of shut down and manage chronic trade union problem.

The industrialists also asked the minister to include the right to shut down an industry – under sheer financial problem – in the Act.

Federation of Nepalese Chambers of Commerce and Industry (FNCCI) president Suraj Vaidhya, on the occasion, said that the industries that are in extremely bad financial health should be allowed to shut down. "It is impossible to rescue every sinking ship," he added.

However, president of Confederation of Nepalese Industries (CNI) Narendra Basnet said that the Act should include the industrialists recommendations.

Responding the industrialists, the minister said that the Act would address the collective voice of industrialists. "It will include the recommendations from the private sector," he said, assuring them to bring it as soon as possible.

Recently, Ministry of Industry had forwarded the proposed Act to the cabinet

The government is preparing to introduce the new Act as an umbrella Act that will help implement the earlier industrial policy.

Industry secretary Krishna Gyanwali, on the occasion, urged all the stakeholders to take the ownership of the Act since it will benefit the whole industrial sector.

The delegation included higher officials of FNCCI, CNI, Federation of Nepal Cottage and Small Industries (FNCSI) and Federation of Women Entrepreneurs Association of Nepal (FWEAN).