Private sector should not be brought under CIAA jurisdiction, FNCCI says

KATHMANDU, MARCH 1: The President of the Federation of Nepalese Chambers of Commerce and Industry, Chandrakant Dhakal, has stated that the private sector should not be brought within the jurisdiction of the Commission for Investigation of Abuse of Authority (CIAA).  “The proposal is to allow the corruption watchdog to keep tabs on the private sector is under consideration by the parliamentary committee,” he said by warning that if such a proposal were passed, the private sector would be adversely affected.

In a meeting of the State Affairs and Good Governance Committee recently, Chairman Dhakal informed that associations and organizations of the private sector have been opposing this proposal from the beginning.

He, however, said that there is a need to monitor irregularities in the businesses operated by private players and take action against the guilty.  The chief of the apex body of Nepali business fraternities also emphasised the formulation of new policies amenable to the growth of the private sector.  “With the present economic downturn, the confidence of domestic investors is at its lowest ebb.  So, in this connection, how we could attract foreign investors,” he stated.

According to him, the is no alternative to the collaborative efforts between the private sector and the government for improving the economic scenario of the country.