Amid growing economic uncertainty and political instability, Nepal’s major business umbrella organisations have come together to express their solidarity for peace and national prosperity.

Initiated by the National Business Initiative (NBI), more than two dozen key private sector organisations issued a joint declaration committing to responsible, transparent, and nation-building practices.

The declaration was publicly announced on Monday at a press conference in Kathmandu, following discussions among representatives of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI), Nepal Chamber of Commerce, Federation of Nepal Cottage and Small Industries, Federation of Contractors' Associations of Nepal, Independent Power Producers' Association and Hotel Association, Nepal, among others, coordinated by NBI.

Amidst the growing economic uncertainty, political instability and recent social movements in the country, the private sector has made it public its determination to make its role more responsible, transparent and nation-building oriented, said Kush Kumar Joshi, President of NBI.

The private sector, which contributes billions of rupees through taxes and creates nearly 5 million jobs, has expressed its commitment to continue its contribution for the benefit of the nation even in these difficult times.

"Change should not start from others, but from its own improvement. Therefore, the private sector has decided to move forward by making transparency, accountability and good governance its internal practice. Now is the time to find cooperation and solutions, not blame each other. Now is the time to choose the path of shared responsibility and solidarity, not blame," Joshi said.

“This common vision is not just for commercial interests, but to realise the common dream of peace, stability and prosperity of the nation."

Through the declaration, the private sector has announced that it will launch a campaign to make the country prosperous by instilling hope in the backdrop of the increasing frustration caused by the vandalism and arson during the Gen Z movement.

The private sector has committed to working together with the government, political parties, and the young generation to put the country on the path of prosperity by establishing sustainable peace.

"In the changed situation after the youth movement, the entire private sector will collectively launch a campaign to turn the despair that has grown after the attacks on some industries into hope," the declaration states.

"We, the leading representatives of the private sector, express our firm commitment to move forward in collaboration on the path of good governance, transparency and prosperity in accordance with the sentiments raised during the youth movement. We express our commitment to work jointly with the government of Nepal, political parties, the youth and the general Nepali people to build a peaceful, dynamic and prosperous Nepal.”

They said that although it is challenging to continue business after the Gen Z movement, it will continue to contribute responsibly. The private sector has expressed its commitment to unite the country through business.

The private sector has also stated that it will support the holding of the House of Representatives elections on the stipulated date. For this, the private sector has said that it will form a task force to support for holding election in time.

The private sector has also urged the government to make the services provided by government offices and facilitations to be easy and business-friendly in the changing situation.

The declaration has stressed on the need to conduct a public awareness campaign to correct some misconceptions about the private sector, to collect and analyze facts about the contribution of the private sector and present them to the public, and to jointly develop a positive narrative with the youth.

President Joshi said that the private sector is not only strength of an economy but also a partner force in the peace, stability and reconstruction of the country, and has expressed its commitment to support prosperity.

On the occasion, representatives of the business community including Padma Jyoti, Bhaskar Raj Rajkarnikar, Binayak Shah and Ganesh Karki expressed their commitment to embark on the path of peace and prosperity by boosting the morale, which has been reduced by the current situation.