KATHMANDU, MAY 31:
The private sector blamed labour unrest, frequent strikes and energy deficiency as major bottlenecks in creating an investment-friendly environment that has hit industrial growth.
The current political turmoil, which has been created due to the failure to promulgate a new constitution, has further fuelled uncertainty in the industrial sector, said president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Suraj Vaidya in an interaction programme organised by the Finance Ministry here today.
The labour unrest and strikes will continue since the political parties have failed to ensure stability through a new constitution, he added. “The private sector which was optimistic about attracting more investment in the productive sector utilising the opportunity of the Investment Year has been discouraged with the latest political developments.”
The garment industry has been compelled to cancel orders due to the irrational demands and threats from workers, said president of Garment Association – Nepal Uday Raj Pandey. “The garment industry has failed to deliver products on schedule due to labour unrest and power outage.”
Similarly, entrepreneurs involved in the tourism sector said that tourist arrivals have reduced in a visible form. “The booking ratio at various five-star hotels has reduced by 30 per cent to 40 per cent,” an entrepreneur said. “Similarly, around 12 per cent airlines have already curtailed the number of flights to Kathmandu due to low mobility of tourists. Airline operators have reduced the number of flights by some 30 per cent to 40 per cent due to the political instability.”
The private sector also lamented unavailability of fuel to run industries. “Industries face hassles in getting diesel at a time when the country is also reeling under power outage,” said Vaidya.
The private sector also demanded the government to compensate them for losses due to unnecessary bandhs organised by various parties. Addressing the concerns of the private sector, finance secretary Krishna Hari Baskota said that the government will try to incorporate all the concerns of the private sector in the coming budget.
Caretaker finance minister Barshaman Pun asked the private sector not to be discouraged because of the political instability.
“Economic growth and prosperity should not be affected due to political instability,” he said, adding the government is positive about addressing all the problems being faced by the private sector.
Source: THT
The private sector blamed labour unrest, frequent strikes and energy deficiency as major bottlenecks in creating an investment-friendly environment that has hit industrial growth.
The current political turmoil, which has been created due to the failure to promulgate a new constitution, has further fuelled uncertainty in the industrial sector, said president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Suraj Vaidya in an interaction programme organised by the Finance Ministry here today.
The labour unrest and strikes will continue since the political parties have failed to ensure stability through a new constitution, he added. “The private sector which was optimistic about attracting more investment in the productive sector utilising the opportunity of the Investment Year has been discouraged with the latest political developments.”
The garment industry has been compelled to cancel orders due to the irrational demands and threats from workers, said president of Garment Association – Nepal Uday Raj Pandey. “The garment industry has failed to deliver products on schedule due to labour unrest and power outage.”
Similarly, entrepreneurs involved in the tourism sector said that tourist arrivals have reduced in a visible form. “The booking ratio at various five-star hotels has reduced by 30 per cent to 40 per cent,” an entrepreneur said. “Similarly, around 12 per cent airlines have already curtailed the number of flights to Kathmandu due to low mobility of tourists. Airline operators have reduced the number of flights by some 30 per cent to 40 per cent due to the political instability.”
The private sector also lamented unavailability of fuel to run industries. “Industries face hassles in getting diesel at a time when the country is also reeling under power outage,” said Vaidya.
The private sector also demanded the government to compensate them for losses due to unnecessary bandhs organised by various parties. Addressing the concerns of the private sector, finance secretary Krishna Hari Baskota said that the government will try to incorporate all the concerns of the private sector in the coming budget.
Caretaker finance minister Barshaman Pun asked the private sector not to be discouraged because of the political instability.
“Economic growth and prosperity should not be affected due to political instability,” he said, adding the government is positive about addressing all the problems being faced by the private sector.
Source: THT
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