Business Leaders Urge Focus on Economy Over Politics to Resolve National Issues

Leaders of two major private sector umbrella organizations have emphasized the need to prioritize the economy over politics to achieve national prosperity and resolve existing problems.

Speaking at an event organized by Clickmandu.com on Sunday, Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), and Nirvana Chaudhary, Senior Vice President of the Confederation of Nepalese Industries (CNI), expressed concern over recent attacks against the private sector. They stated that the state must pay special attention to economic reform.

President Dhakal stated, "We are ready to move forward by dusting off the ashes, but security is necessary." He noted that vandalism and arson targeting private sector structures in the name of protests, such as those by 'Janjati' or others, have discouraged investors. "The private sector contributes 81 percent to GDP and 86 percent to employment. Yet, private sector assets are being looted and set on fire in the name of protests," Dhakal said. "Even in this situation, we are ready to move forward by dusting off the ashes, but the state must guarantee security."

President Dhakal complained that a false narrative is being established in society that the private sector is only profit-oriented. He said, "The private sector does not just earn profit; it also provides services to the general public and pays taxes to the state. We are always in favor of good governance and controlling corruption, but the act of looting by infiltrating protests is condemnable."

He cautioned that while damage to government structures is often covered up with tarps, the private sector faces devastating losses amounting to billions, which can be crippling. "We keep demanding jobs, but we are setting fire to the very industries that create employment. This contradiction must end."

Similarly, CNI Senior Vice President Nirvana Chaudhary pointed out that the main problem in the country is youth unemployment. He claimed that while government statistics show unemployment at 10-11 percent, the reality of youth unemployment is around 30 to 40 percent.

"In my 25 years of experience, I have seen much instability, conflict, and disasters like earthquakes in Nepal. But the private sector has always stood up resiliently," Chaudhary said. "The main reason for the anger of the current Generation Z is the lack of employment. This problem will not be solved until the economy is placed above politics."

He cited the example of India, recalling that India became a rising global power because it prioritized the economy over politics in the 1990s.

"In our country, political agendas always take precedence. Now, the media must also put the economy, not politics, in the headlines," he said. He stressed the need to make domestic investors feel secure before worrying about attracting foreign investment.

"When domestic investors feel secure and increase investment, FDI will come automatically," Chaudhary said. "We are still optimistic about Nepal's future. We are not running away; we want to stay here and build the nation."

They unanimously expressed the need for a change in the perception towards the private sector and for the state to take immediate concrete steps to create an investment-friendly environment.