KATHMANDU: Nepal’s private sector has drawn the government’s attention toward the impact of COVID-19 pandemic and the lockdown on the economy and its cumulative adverse effects.
Office-bearers of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) have held discussions with government chief secretary Lok Darshan Regmi to resolve the problem faced by the private sectors.
Private sector representatives urged the government to rescue the industry, commerce and business sector from the adverse impact of the coronavirus pandemic.
“Industries and factories in the country are on the verge of closure due to the lockdown. The supply system has also been hit hard and the national economy is also dented in such situation,” the office-bearers of the country’s three big chambers of commerce and industry reported to the Chief Secretary, urging the government to create an environment for reviving the economy.
The private sector has suggested the government to support through appropriate fiscal policy the economically poor and vulnerable population, the people working in the informal sector and the self-employed people.
Likewise, it called on the government to address and assist the industrial and business sector through the monetary policy.
The private sector representatives informed the government that the industries and businesses were closed due to the ‘stay at home’ order and they were finding it hard to pay the employees and the workers.
They contended that they could pay 50 per cent of the wages of workers for the period the industries are closed while the government should provide the remaining 50 per cent through grant.
Chief Secretary Regmi said the government was aware that the private sector directly contributed 70 per cent to the national economy and it has directed its serious attention towards this.
He said the government has been formulating policies in accordance with the aspirations of the private sector and it would not allow the industry and business sector to crash.
Comment