GANDAKI PROVINCE GOVERNMENT TO COLLABORATE WITH PRIVATE SECTOR TO ATTRACT INVESTMENT

Pokhara. The Gandaki Province government has decided to collaborate with the private sector to attract investment. The private sector's cooperation has been sought to boost the province's economic development and investment.

During the discussion, private sector representatives stated that the environment for investment has not yet been created. Nareshman Shrestha, Vice President of the Federation of Industries and Commerce, said that the government itself has not been able to create an environment for investment. “There is still doubt in the perspective of looking at the private sector,” he said, “Before we create an environment for investment, we need an easy business policy.”

Naresh Kandel, President of the Federation of Industries and Commerce Gandaki, complained that the provincial government has not been able to provide guardianship to the private sector. “The government and the private sector are complementary to each other. We are ready to pay taxes to the state,” he says, “But the state must provide us with a conducive environment for doing business.” They expressed concern about the excessive delays in Nepal's processes and the high tax rates.

“The process of starting a project takes years, which needs to be made faster and simpler. The tax rate is the highest in the world,” says Dhurmaraj Bartoula, President of the Confederation of Gandaki Industries, “This discourages investors. Tax rates and administrative hassles need to be improved.”

Their suggestion is not to doubt the perspective of looking at the private sector and to practically implement the idea that the private sector is a co-traveler of state development.

The private sector has suggested that the province should make the tourism sector dynamic. They emphasized that the government should invest in building tourism circuits and developing infrastructure necessary for large industries.

Similarly, the private sector's demand is to amend the law to facilitate the land acquisition process and create a conducive environment for investors. The government has pledged to address the demands of the private sector.

Finance Minister Jita Sherchan said that policies will be formulated based on local needs. “The provincial government is serious about addressing the problems of the private sector and creating an environment for investment,” he said, “While formulating policies, we must work without forgetting the spirit of federalism.”

He pledged to move forward with sector-wise discussions to create an environment for the private sector and to remove the procedural hassles for operating industries.

Chief Minister Surendra Raj Pandey said that from now on, a process will be initiated to study investment-related problems meticulously and solve them. “We are ready to make investment-friendly laws and regulations. We have understood your suggestions regarding land acquisition, taxes, and administrative hassles within the province,” he said, “In some cases, we ourselves have faced these problems. The government is serious about this.”

He stated that the government will focus on creating an environment for work not only for investors but also for ordinary citizens. The provincial government has pledged to hold sector-specific discussions and formulate action plans to attract investment in areas such as tourism, agriculture, and hydropower.

Finance Minister Sherchan announced plans to hold an investment conference with the participation of the private sector immediately after the budget and to bring in external and internal investment for the province's development. The investment conference plan is something the government includes in every budget but fails to implement.