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The Government of Nepal has expressed that its decision to immediately implement the Private Sector Protection and Promotion Strategy (PSPP), proposed by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), is commendable and will encourage the country’s private sector.

FNCCI President Chandra Prasad Dhakal issued a press statement today thanking the government for its decision, made during the Cabinet meeting on Chaitra 13, to address the federation’s demand by implementing the PSPP strategy without delay.

The PSPP program, which focuses on the protection and promotion of the private sector, has also been included in the government’s recently announced list of 100 governance reform actions.

The federation had called for the formulation of such a strategy after repeated incidents in the past - including during the “Gen Z movement” last Bhadra - where private businesses and public institutions were attacked and damaged without cause. It had urged the government to protect and promote these entities as public assets.

On Kartik 22, FNCCI organized an economic discussion program and, citing the changing context, drew the government’s attention to the need for this strategy for the first time. Subsequently, further discussions were held under a cooperation program for peace, stability, and prosperity, after which the federation submitted a concept paper on PSPP to the government.

“This ensures the government’s commitment to guaranteeing the safety of private businesses, individuals, and investments, along with necessary promotion. We expect this will boost the morale of the private sector and support investment promotion,” said President Dhakal. PSPP has been included as point number 60 in the government’s 100-point governance reform agenda.

For policy reforms, the government has also decided to adopt and implement recommendations submitted by the High-Level Economic Reform Recommendation Commission, formed for the second phase of economic reform at the request of FNCCI. Accordingly, newly appointed Finance Minister Dr. Swarnim Wagle has decided to move forward with repealing 15 laws.

During its third executive committee meeting held in Dhorpatan, FNCCI had decided to advocate for the formation of such a high-level commission to prepare a roadmap for second-phase economic reforms through an economic discussion program.

“Through the National Economic Transformation–2030, the federation had urged for the amendment, revision, and repeal of various laws. PSPP will serve as a mechanism to implement the commission’s recommendations. We will collaborate with the government in both the formulation and implementation of this strategy,” said President Dhakal.

Similarly, at the federation’s request, the government has decided to create an integrated structure by merging institutions with overlapping functions - such as the Investment Board and the Department of Industry - to facilitate foreign investment and provide simpler and more efficient services to stakeholders.

The federation also stated that if energy is treated as a raw material and made available to productive industries at concessional rates, it would result in dual benefits.