Experienced entrepreneurs must not be prevented from launching business ventures abroad

During the election of the Federation of Nepalese Chambers of Commerce and Industry held on April 12, the largest umbrella body of the private sector was sharply divided into two factions, with one led by Pradeep Jung Pandey and the other by Bhaskar Raj Rajkarnikar.

Although Pandey finally emerged as the new president, the posts of senior vice president and vice president from associate group — who undertakes the crucial task of dealing with labour unions — went to the group led by Rajkarnikar, creating a complex matrix at the helm of FNCCI. Rupak D Sharma of The Himalayan Times spoke to Pandey, who is involved in sectors ranging from pharmaceuticals and banking to trading, on how he plans to work with people who were opposing him during the election and agendas that he plans to raise during his three-year term.

The composition of FNCCI’s 62-member executive committee is mixed, isn’t it?

Yes, it is. But I, along with the senior vice president and three other vice presidents, on Thursday, made a public commitment to work in unity. I hope other members of the executive committee and general members won’t have divergent views when it comes to promoting the private sector.

But some members of the executive committee were sharply against you during the election. Won’t it be difficult to work in this kind of environment?

Even during the election campaigns, I always emphasised on the need to settle differences or disputes in an amicable manner. I’ve never used violence or force to achieve goals, and never will. That’s why FNCCI’s election this year was peaceful than those of the past. Also, media has always portrayed me as a friendly and cooperative person. And I think I am like that. So, soon after I assumed the post of FNCCI president, I talked to my vice presidents and stressed on the need to move forward in a united manner. And they have agreed. So, we now have the same voice on promoting businesses, enterprises and the private sector. We will also raise the issues of consumers, professionals and workers, like creating jobs, delivering quality goods and services, and reducing loadshedding hours.

But what is also true is that you always remained in the shadows when you were the vice president in the previous executive committee as you got elected from another panel. Don’t you have grudges?

I wasn’t in the limelight because I had become vice president from commodities group, which does not look into hot issues like labour and revenue. Maybe this was the reason why it appeared that I was in the shadows. Besides, I always extended support to the then president and will continue to listen to his suggestions and advice. So, since I wasn’t in the shadows, I don’t have grudges. Besides, I believe in institutionalising good practices of the past and adding value to ongoing initiatives to ensure better outcomes.

So what are the agendas that need immediate attention?

Unity is the first thing that needs focus. We will then be able to work more effectively, which will yield even better results. These united minds then must match the pace of changes taking place around the world, and embrace those that can support the country’s economic development. For this, we need positive attitude and thinking. We then have to set goals and create timetables to achieve each of them. I believe in working according to a timetable because it creates pressure to meet the deadline. Also, I will work towards strengthening the FNCCI Secretariat and making it more responsible. We also need to enhance the capacity of district chambers and help those located in places like Jajarkot and Salyan to construct their own buildings. These measures will ultimately help in generating awareness about economic issues and economic empowerment.

And what economic agendas are you planning to raise?

Firstly, we will push the government to create an investment-friendly environment and ensure security of domestic and foreign investment. We also need to think of ways to reduce production cost, as this will help us gain competitive edge and focus more on quality enhancement. Also, human resource departments must be strengthened at firms, as these units play a crucial role in enhancing the productivity of workers, which can cut overhead costs. We will also raise the issue of building more hydropower projects as they are essential to make frequent power cuts a history. We will also push the government and the private sector to increase investment in agriculture and physical infrastructure like roads which can reduce transaction cost. Also, there is a need for a conducive environment for more multinational companies to enter Nepal. Multinational companies are not only one of the biggest job creators here, but biggest revenue generators for the government as well. They have also been playing an important role in technology transfer, which is crucial for the country’s development.

During the election campaign, you had said you’d lobby for the introduction of a policy that will allow Nepalis to invest abroad. What is your take on it?

I strongly believe that Nepali entrepreneurs who have gained expertise in certain sectors must not be prevented from launching similar business ventures abroad. For instance, an experienced contractor must not be barred from securing contracts abroad. Similarly, domestic entrepreneurs with long experience in, say, education and health sectors, should not be stopped from opening educational institutions or hospitals abroad. This, I believe, will help us earn more foreign currency, as the income made by Nepalis abroad would eventually enter Nepal.

Lastly, would you like to say something to the government and lawmakers, who are drafting the constitution?

I want to ask lawmakers to enshrine property rights as a fundamental right in the new constitution. Also, it must speak about promoting and protecting the private sector. The government, on the other hand, must put economic diplomacy at the core of its international engagement. But for this, it must make various appointments on time. For instance, the Nepali embassy in India, the country’s largest trading partner, still does not have an ambassador. Such lapses should be avoided.

Source: THT