Pvt sector hails peace pact

KATHMANDU, NOV 03 -

Nepal Inc on Wednesday welcomed the much-awaited breakthrough in the peace process—the signing of the seven-point agreement by four major political parties on Tuesday.

With a tumultous five years after 2006 that proved disastrous for the economy, Tuesday’s deal has made the private sector hopeful, especially as the most contentious issue of the peace process—integration of Maoist combatants—has being resolved.

In a statement, the country’ three leading business bodies—Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC) and Nepal Association of Tour Operators (NATO)—said the fresh political understanding will become instrumental in materialising the Nepali people’s long-cherished dream of durable peace and stability in the country.

With earlier agreements landing in trouble, the private sector, however, has doubts about the implementation aspect of the fresh pact. The private sector is now pressing for the early implementation of the pact, which they say, could give the ailing economy the much-needed fillip. “The implementation of the pact is a must to boost the confidence of the private sector,” said Suraj Vaidya, the president of the FNCCI.

In a statement, the FNCCI said the private sector is thrilled as the broader political agreement has sent a message that the county will soon get a new constitution. “The historic agreement between the major political parties has sent positive vibes nationally and internationally,” the FNCCI statement said. “FNCCI is of the view that a developed economy is the first criteria for institutionalising the political achievement.”

With the government already announcing 2012-13 as Nepal Investment Year, the private sector believes this pact is the perfect opportunity to boost foreign investors’ confidence in Nepal.

NATO has termed the agreement a major breakthrough in the ongoing peace process and constitution drafting.

Source: Kantipur