Nepal UK
Kathmandu- Prime Minister Sushila Karki has said the interim government will support and provide incentives to industries and businesses that suffered losses during the Gen Z protests in September this year.
Addressing the 'National Economic Debate 2.0' organised by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Saturday, premier Karki assured that the government would make every effort to immediately provide relief to the private sector affected by the loss and damage, and to nurture their confidence.
Stating that the government is committed to establishing the rule of law, Prime Minister Karki said it is fully engaged in providing security assurances to the private sector.
"Bribery, party-wise levies and the network of commission are intolerable; we cannot accept plunder in the name of democracy; those who harass honest entrepreneurs and manipulate policies should not be allowed to flourish," she said.
Noting that good governance is the prerequisite of social justice and economic growth for any nation, PM Karki stated the government was aware of the plunder of state assets in political cover, the suspicions forced on the private sector and the extractive problematic system.
The Prime Minister stated that strict measures have been taken through Nepal Rastra Bank for the stability of the banking and financial sector while policy complications are being removed to improve the business environment.
PM Karki said that the entire country is preparing for the House of Representatives election scheduled for March 5, 2026, and expressed confidence that through the election the country will progress in a sustainable democratic process.
Finance Minister Rameshore Khanal emphasized that the current government has been diligently working since its inception to restore the private sector to its pre-Gen-Z movement condition. 'The government has consistently engaged in discussions with the private sector,' he remarked, 'and is dedicated to fostering a private sector-friendly environment.'
He also provided insights into the decentralization of tax administration services, affirming the government's commitment to building trust within the business community. 'We are prepared to offer services without causing any disruptions to the business community,' he added.
‘Need to boost the morale of the private sector’
Addressing the conference, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, urged the government to take special initiatives to boost the morale of the private sector.
Speaking on the occasion, Dhakal highlighted that the private sector contributes around 81 percent to the national economy. He urged the government to formally acknowledge this contribution by passing a proposal of national importance through the Cabinet to help the general public understand the private sector’s role in the country’s economic growth.
According to a preliminary FNCCI survey, the Gen Z movement on September 8 and 9 caused physical damage worth around Rs 48 billion, with total losses to the private sector amounting to approximately Rs 88 billion.
Dhakal said the private sector has often been targeted during protests, but the recent incidents inflicted more harm than previous movements.
“Entrepreneurs invest by borrowing or pooling limited resources, contribute to national revenue, and create jobs. Yet, during the recent protests, businesses were vandalized, homes were looted, and enterprises were set on fire. These incidents have forced us to reflect on where we, as a society, went wrong,” he said.
He called for strict punishment for those involved in arson, vandalism, and looting during protests, warning that failure to act would only promote impunity, RSS news agency reported.
