FNCCI Prez sees signs of economic recovery

KATHMANDU, FEBRUARY 4: President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Dhakal, has stated that there are signs of economic activity picking up to some extent. Speaking at an interaction program on new provisions related to revenue leakage control and the implementation of the Vehicle Consignment Tracking System (VCTS), he noted that while the market is not performing exceptionally well, key economic indicators suggest a path toward recovery.

He mentioned that recent trends indicate a gradual revival of the economy, with economic indicators showing positive momentum. Compared to last year, imports have increased by 7.1 percent, exports by 31.8 percent, deposit collection by 3.7 percent, private sector lending by 5.2 percent, revenue collection by 12.7 percent, and government expenditure by 17.8 percent. These figures suggest that economic activity is gaining traction. Although the market is not yet performing at an optimal level, these signs point toward improvement.

He further emphasized that all government agencies should focus their efforts on revitalizing economic activities. He expressed confidence that FNCCI would continue to support this initiative.

He also stressed the importance of a balanced and coordinated approach from the Revenue Investigation Department to ensure economic stability. FNCCI remains committed to collaborating with relevant authorities in this regard. Additionally, he warned that failing to promote private sector investment and take proactive measures could hinder economic progress.