KATHMANDU: Representatives of private sector — the Federation of Nepalese Chamber of Commerce and Industry, Nepal Chamber of Commerce and Confederation of Nepalese Industries — have expressed their concern over the latest political developments in the country.

The three umbrella organizations of the private sector have reiterated that they are in favor of political stability, and have been repeatedly suggesting for the same since long.

Stating that only political stability can bring stability in policy and pave room for new industrial development, better business and employment generation, the leading private organizations have reminded the parties that only political stability will attract new investment leading the economic towards progressive future.

“Hence, we urge the major political parties to be conscientious in making decisions,” the organizations have said in the joint statement.

They have further said that the recent past of the country has shown that political stability has direct bearing on the economic development of the country.

Citing that the economy has been severely affected by the COVID-19 pandemic, the private sector has urged all political parties to take sensible and restrained decisions in the difficult situation as any reckless move can create confusion and have a serious impact on the country’s economy and livelihoods.