Private sector welcomes BIPPA‚ politicos look askance
KATHMANDU, OCT 24: While the response of political parties seem to be mixed, the private sector has welcomed the Bilateral Investment Promotion and Protection Agreement (BIPPA)between Nepal and India.
Some of the most scathing criticism has come from Bhattarai’s own party. UCPN-M leader Dev Gurung charged that Bhattarai had misled parliament. “He did not utter a single word about BIPPA at the party meeting on his India visit,” he said, adding that the party would take action.
He said a country in transition could not afford the cost of compensation and the economy would collapse. Some measures mentioned in the agreement are beyond government control, he said, adding that BIPPA would not give equal treatment to investment from other countries.
Other vehement BIPPA critics are former PM and CPN-UML Chairman Jhala Nath Khanal, former PM Madhav Kumar Nepal and senior leader K P Oli, who say Bhattarai compromised national interest by signing the agreement.
However, the private sector has welcomed BIPPA hoping the country will benefit. “I see no wrong in the agreement,” said president of Nepal Chamber of Commerce Suresh Kumar Basnet. “Political parties should not oppose BIPPA, if they want to attract Indian investment,” he said, adding that the agreement will build confidence of Indian investors. “The agreement will make the government proactive and help solve problems,” he said. According to him, BIPPA will make political parties and trade unions more responsible as the country has to pay for losses to foreign industries. Economist Chiranjivi Nepal said BIPPA was essential for Nepal’s prosperity.
Ex-FM doubts PM’s motive
KATHMANDU: Former finance minister and CPN-UMP leader Bharat Mohan Adhikary on Sunday welcomed the agreement, though he blamed Bhattarai of keeping the House in the dark. “I agree we need Indian investment but why did the PM mislead the country saying he was not signing any agreement,” he asked. “There is something hidden in the deal, he said, charging that the PM had not built consensus before signing the agreement. “Why did he did not seek consensus on a deal that would affect the country for years?” he asked. The Indian government had proposed BIPPA in 2001, but Nepal refused to sign showing insurgency and political transition, Adhikary said, adding that BIPPA was in Nepal’s court since a decade, but earlier governments had not sign it citing political transition.
Source: THT
