CNI Holds Discussion with Finance Minister, Pledges Support for a Business-Friendly and Liberal Economy
The Confederation of Nepalese Industries (CNI) held a discussion with Finance Minister Dr. Swarnim Wagle about the state of the country’s economy. Led by CNI President Birendra Raj Pandey, the delegation met on Monday evening to exchange greetings and discuss current economic challenges and potential solutions.
During the meeting, President Pandey highlighted areas where the government should focus immediately, in the medium term, and long term to achieve good governance and high economic growth, which the people of Nepal expect. He welcomed Minister Wagle’s commitment to second generation economic reforms and the repeal of outdated or irrelevant laws, expressing confidence that the government will prioritize overall economic improvement starting from the upcoming budget.
He emphasized the need for policies that promote job creation, high economic growth, and production-oriented industries to reduce imports. He also stressed that earning money should not be viewed as a crime, urging the government to create a positive environment where legally earning wealth is respected. Given the current weak demand, he suggested policies to boost overall market demand.
He also informed Minister Wagle that CNI is conducting a study on how Nepal’s current $45 billion economy could grow to $100 billion over the next 10 years, and that a report will be shared with the government soon.
Minister Wagle said he took charge of the Finance Ministry to steer the economy in the right direction. He noted that foreign investment will follow a motivated private sector and assured that production-oriented industries aimed at import substitution will receive special attention. He highlighted that the government will focus on eliminating the need for long queues and bribery. Wagle added that political stability sought by the private sector has been achieved, and the government will now ensure policy stability to drive economic prosperity. He stressed promoting a liberal, business-friendly economic environment without allowing unregulated freedom. The minister also requested CNI’s support in attracting multinational companies and their investments.
Finance Secretary Dr. Ghanshyam Upadhayay asked the CNI to suggest provisions and reforms that could make investment facilitation easier.
The discussion was attended by Immediate Past President of CNI Rajesh Kumar Agrawal, former Presidents Haribhakta Sharma and Vishnu Kumar Agarwal, Governing Council members Shiva Ratan Sharda and Shashikant Agrawal, Vice Presidents Hem Raj Dhakal, Bhim Ghimire, and Gokul Bhandari, OB members Vidushi Rana and Sandeep Sharda, President of CNI Young Entrepreneurs Forum Manish Shrestha, and Director General Dr. Ghanashyam Ojha, all of whom provided suggestions on economic reforms and policies for high growth.