Finance Minister Urges Private Sector to Expand Investment Without Hesitation, Pledges End to Corruption Hurdles

Kathmandu. Finance Minister Dr. Swarnim Wagle has urged the private sector to expand investment with confidence. He made this appeal during a meeting with representatives of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Monday.

Finance Minister Wagle also called on the private sector to participate in the country's economic development by expanding investment. He committed to the private sector that the era where businesspersons had to pay bribes, stand in queues, or face delays for minor reasons to get work done would end.

During the meeting, Finance Minister Wagle stated that he has come with a clear roadmap for economic reform and announced a zero-tolerance policy towards corruption. "I have not come to take bribes, nor will I let anyone take them," said Finance Minister Wagle. "I have come to steer the economy's ship and take the country in a new pace and direction. The days when the private sector suffered are over."

Minister Wagle committed that the government would move forward as a partner, not an obstacle, to the private sector. He signaled that the government would apply civil law, rather than criminal law, to dishonesty or errors in the economic sector. He said, "In economic dishonesty, we will now move towards financial penalties. Industrialists and businesspersons will no longer have to be jailed."

He stated that when the state shows flexibility, the private sector should not misuse it. He mentioned that while the state acts as a friend and partner, full honesty is expected from the private sector, warning that the government would deal ruthlessly with those who engage in deliberate dishonesty.

"We are your partners; increase investment, create employment, and engage in nation-building," he said. Following this assurance from the Finance Minister, representatives of the private sector expressed enthusiasm.