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Businessmen’s prescriptions


The Nepali business community has called upon the new government to implement a range of suggestions made by it, saying that such movement was long overdue. The community has identified five core areas that it believes need to be addressed immediately-security at both places of business, as well as the country in general; revenue law, policy and administration; the need for an appellate body to hear labour issues and deal with laws and policies; and corruption control.

Rajendra Kumar Khetan, spokesman of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), says that his umbrella organisation even has some more specific recommendations. For security in business places, the FNCCI suggests forming the industrial security force that has already been approved by the cabinet. Similarly, the FNCCI says it is vitally important to harmonise the Nepali revenue mechanism with the fast-changing international system, and amend existing labour laws to make them investor-friendly. "The policy should also open up new areas for employment generation that are seasonal, part time, contractual, weekly or hourly that are paid a little higher remuneration," explained Khetan.

With regard to the corruption that business leaders say has taken a serious toll on the country's economic sector, Khetan cited four areas where change is required: the revenue administration, public commercial banks, government procurement departments and public service delivery utilities. The FNCCI has also demanded that the revenue advisory committee be made permanent and given teeth, and that the Income Tax Act 2058 be amended.


LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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