Political developments worry private sector, urge not to lose restraint

Kathmandu: Private sector organizations have expressed concern over the recent political developments.

The three largest private sector organizations, the Federation of Nepalese Chambers of Commerce and Industry, the Nepal Chamber of Commerce and the Confederation of Nepalese Industries, issued a joint statement on Wednesday expressing concern.

Stating that the recent developments will not benefit the country’s economy, all the three organizations have urged the major political parties to take a restrained decision.

“No one should forget the fact that only political stability can lead to policy stability, new industries, new businesses to flourish, jobs to be created, new investment to be attracted and the economy as a whole to be able to move forward,” the joint statement said. At a time when the economy is being severely affected, the private sector is concerned that the consequences of the recent political turmoil could be even more serious.

Looking at past experience that political stability has a direct bearing on economic development, the private sector is skeptical and concerned that the current difficult situation will further complicate matters.

Stating that it will have a serious impact on the economy of the country and the livelihood of the people, he suggested that the private sector should be serious in taking the country towards stability by taking more prudent and restrained decisions.