KATHMANDU: Nepal’s private sector has urged Prime Minister Sher Bahadur Deuba to ratify the Millennium Challenge Corporation (MCC)’s Nepal Compact Program.
Stating that Nepal faces a shortage of resources to meet the infrastructure needs, it added that backtracking from an already signed agreement will tarnish the image and erode Nepal’s trustworthiness in the global community.

The private sector, in a statement, also said that not endorsing such international agreement would drive away foreign investors and donors in the future.

The Nepal-USA Chamber of Commerce and Industry handed a joint statement of NUSACCI, Federation of Nepalese Chamber of Commerce and Industry, Confederation of Nepalese Industries and Federation of Contractor Associations of Nepal to Prime Minister Deuba on Sunday urging him to take principled and affirmative action to ratify the MCC from the parliament.

In response, PM Deuba said that the government was trying to forge consensus among the political parties to ratify the MCC from the parliament.