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Kathmandu Wednesday April 11, 2001 Chaitra 29, 2057.
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Poor law, order shuns foreign investiments: PM
declining due to poor law and order situation: PM
Post Report
KATHMANDU, April 10 - In the light of deteriorating law and order situation
in the country, Prime Minister Girija Prasad Koirala has stressed upon the need to build a
national consensus for pursuing matters of national interests.
"There is a need to seek solution to the national problems currently
plaguing the country, for which all parties must come to terms under one roof," said
Premier Koirala.
Premier Koirala was speaking at a program organized by the Federation of
Nepalese Chambers of Commerce and Industry (FNCCI) to mark the Industry-Commerce Day in
the capital here today.
Koirala expressed serious concerns over increasing violence that has posed a
major threat to life and property. "Increase in violence has not only affected the
social lives, but has also threatened industry and commerce of the country, which are the
vital propellers of the national economic development."
Without ensuring safety and security, foreign investments are bound to
decline and operation of industries affected, he said. He pledged to render full support
and cooperation for improving the environment for carrying out business activities.
On the same occasion, Koirala also expressed his dejection over the failure
of the recent Winter Session of the Parliament, which critics had termed as fruitless. He
said, "Parliamentary proceeding is the key to seeking solutions to problems. The
recent series of boycotting the proceedings was a loss."
Similarly, Krishna Prasad Sitaula, Minister of State for Industry, Commerce
and Supplies, also emphasized upon the need for improving the law and order situation. He
said that use of force by the government for containing the violence is but an ultimate
resort. However, he added that the present situation is demanding with the government to
use the available resources for curbing the existing disorder.
Sitaula also urged the business community to offer their suggestions to the
government as to how the present security crisis can be resolved.
In addition, with a view to ensure Nepal’s survival in the global
market, which has come as the latest topic in the context of Nepal’s upcoming
accession into the global rules based trading system, he said that there is a need to
diversify and improve the competitiveness of exportable items. "The positive points
of the World Trade Organization (WTO) membership should be tapped to the fullest extent,
while minimizing the negative ones," he added.
Pradeep Kumar Shrestha, President of the FNCCI, reiterated his concern over
the increase in violence that has greatly eroded the investment confidence of the business
community in recent times. He said, "Nepal’s economy is passing through tough
times. Not only inflow of new capital and foreign investment fallen lately, capital
already existing in the domestic market has begun flowing out."
He blamed frequent bandhs and laxity in the implementation of new policies
and plans as some of the other major reasons that has hindering high growth rates of the
economy.
Presenting a presentation on Globalization: South Asia Perspective on the
same occasion, Dr J J Irani, Managing Director of Tata Steel, India, said that India and
Nepal should do away with inflexible policies and adopt a more liberal ones.
The need of the hour is to benefit from globalization by tapping the
opportunities put forward by easy flow of goods, capital and labour, he said.
"Political, social and economic stability is the prerequisite condition
to ensure industries operate in a more predictable environment, which ultimately helps in
the promotion of industries," he concluded.
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