Private sector calls for political stability

 The private sector called foe political stability in the country as the recent political developments have pushed the country towards the instability.

Expressing serious concern over the recent political developments in the country, they also issued a joint press note urging the political parties to take a restrained decision. “The recent developments will not benefit the country’s economy,” the three private sector associations including Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI), said in the joint press note. 

Expressing their concern over current political developments, the private sector associations reiterated that the political stability can lead to policy stability, create conducive environment to set up new industries, for new businesses to flourish, jobs to be created, new investment to be attracted and the economy as a whole to be able to move forward.

The economy that is hit hard by the coronavirus, is going to be in turmoil following the political instability, they fear, adding that the consequences of the recent political developments could be even more serious. The country that has come out of political instability – after almost three decades – deserves to push for economic development instead of political wrangling, according to an entrepreneur, who claimed that the politicians have always pushed the economic agenda to the back bench, despite promising economic revolution after the country wrote the republican constitution through the Constitutional Assembly some five years ago.