Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Confederation of Nepalese Industries (CNI) has expressed deep sorrow over the loss of lives and properties during the recent nationwide protests and demonstrations. In a statement, CNI extended heartfelt condolences to the families of youths who lost their lives, paid tribute to the deceased, and wished for the speedy recovery of those injured.
Highlighting the aspirations of Nepal’s young generation for good governance, transparency, and the eradication of corruption, the private sector body said the country is entering a new chapter. CNI stressed that the collective desire of Nepalis is to move forward by overcoming uncertainties and ensuring peace and order.
The federation, however, raised serious concerns over widespread incidents of arson, vandalism, looting, and destruction of both public and private properties during the agitation. “These events have inflicted grave distress on industrialists and entrepreneurs while shaking investor confidence. Alongside job losses, the growing fear among domestic and foreign investors could cause a long-term impact on Nepal’s economy and employment generation,” the statement read.
CNI underscored the urgent need for an enabling business environment and security assurances to restore investor trust. “If an atmosphere of fear persists, it will not only discourage foreign direct investment (FDI) but also jeopardize local employment opportunities,” the federation cautioned.
The statement also noted that rebuilding damaged public and private infrastructures would require investments worth billions of rupees—far beyond the capacity of state resources alone. As the private sector is the backbone of government revenue, CNI urged authorities to create a fearless and secure atmosphere for businesses to operate without interruption.
Recalling the challenges faced by Nepal’s economy due to COVID-19 and subsequent regulatory measures, CNI warned that failure to normalize industrial operations in the present crisis could further disrupt the economic cycle, hinder development, and affect government revenue collection.
Emphasizing that it is the responsibility of all stakeholders to steer the economy forward in such difficult times, the federation stated: “It is imperative to fulfill the aspirations of the youth generation and help the country enter a new phase. The private sector remains committed to making strong efforts from its side.”
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