Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) President, Chandra Prasad Dhakal, today issued a strong call for the urgent implementation of a Single Window System for industrial development, warning that bureaucratic complexities are severely hindering the country’s economic growth.
Speaking at a program organized by the Ministry of Industry, Commerce, and Supplies (MoICS) to mark the 11th National Industry Day, President Dhakal criticized the redundant nature of government agencies that deal with similar business processes.
“We have too many government institutions doing the same type of work,” Dhakal stated. “Instead of simplifying the business environment, complexity and hassle continue to increase. We must make the Single Window System effective and reduce unnecessary institutions.”
Economic Pressure and Export IncentivesThe FNCCI President noted that the nation’s economic condition has become increasingly complex following the widespread agitation in early September (Bhadra 23-24), stressing that ensuring personal and investment security must be a top priority.
Dhakal also placed critical focus on Nepal’s declining export trade, urging the government to maintain the cash incentive for exports, which was recently paused by the Industry Department citing budget constraints.
“The decision to suspend cash grants will have a serious negative impact on investment, exports, and employment,” he warned. “If there is current financial pressure, the government should keep a record of the liability and arrange for later payment, but the continuity of the incentive policy is essential.”
Mobilizing Domestic CapitalWhile acknowledging recent policy reforms initiated by the MoICS—many of which were pushed by the FNCCI—Dhakal stressed that effective implementation is now paramount.
To address the shortage of capital for large-scale development, he highlighted the critical need to mobilize domestic funds alongside foreign investment. He revealed that the FNCCI had already taken action to support infrastructure financing by establishing the Nepal Development Public Limited.
“We have started work on the Nepal Development Public Limited with a capital of NPR 10 billion through FNCCI’s initiative,” Dhakal said. “This can secure the necessary capital for major infrastructure development and other entrepreneurial ventures, even as the government discusses alternative development finance funds.”
He concluded by welcoming the government’s move to establish a fund for startups and innovation, confirming FNCCI’s readiness to cooperate in developing entrepreneurship and job creation initiatives.
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