FNCCI hails Ministry's step to form Economic Reform Commission

KATHMANDU, AUGUST 18 : The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) welcomed the Ministry of Finance's move to form a high-level Economic Reform Commission.

Issuing a press statement yesterday, FNCCI President Chandra Prasad Dhakal expressed that they view this move positively. "The FNCCI had been advocating for a high-level commission to coordinate efforts for economic reforms. I would like to express my gratitude to the government for prioritizing the Federation's proposal," said President Dhakal.

The statement reminded that the Federation, an umbrella organization of the private sector in Nepal, had submitted a proposal calling for the formation of a high-level commission for economic reform. This was in recognition of the urgent need to achieve sustainable economic development by revitalizing the national economy.

The Federation had also highlighted the need to address issues related to the lack of coordination among economy-related sectors and the limited access of the private sector to the policy-making level. It emphasized the importance of developing immediate and long-term plans to bolster the economy.

The Federation extended its thanks to the Ministry of Finance, as well as Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel, for including the formation of a high-level Economic Reform Commission in the Ministry's priority list for executing action plans within 100 days.

The Federation has also proposed a framework for the Commission's operation in a cost-effective manner, according to the statement.