Six proposals for economic prosperity

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Kathmandu: Various work execution groups have presented six proposals to the High-Level Business Forum formed under the chairmanship of Prime Minister Dr. Baburam Bhattarai.

The groups presented the proposals to contribute to economic development of the country through the institutional arrangement from regular dialogue and collaboration between public and private sectors.

Business Environment, Labour Relations and Industrial Security Execution Group had proposed that there should be only one official trade union in industrial organisations as per the Act related to Trade Unions, 2055 BS and Labour Act-2042 BS as there are difficulties on industrial development due to more than one trade unions in various industrial units.

The Group urged the Ministry of Labour and Employment for making arrangement to hold election of trade unions within the fiscal year 2069/70 by taking help of the private sector and the bodies concerned.

Similarly, Industrial Investment Promotion Group stressed that readymade garments should be included in the list of exportable goods determined by the Nepal Integrated Trade Strategy to receive support for business.

The Finance, Insurance and Monetary Work Execution Group has suggested the government to establish a separate body as maintaining financial discipline was challenging as there were no enough capacity of the Department of Cooperatives.

Likewise, the Group has said there were no progress in increasing investment of NRNs even if there was arrangement for the same.

It has said legal arrangement is necessary for inviting foreign investment in capital market and suggested works by coordinating with stock exchange and Nepal Rastra Bank (NRB).

The Export Promotion and Trade Facilitation Work Execution  Group has stressed on revamping the cash incentive in export working Procedures 2068 BS to make the provision cash grant in export more effective.

The government has formed Nepal Business Forum (constitution orders 2067 BS) and has been working since Jeth 1, 2067 BS.

The PM is the chairman of the Autonomous Body Forum established for moving the country on the path of public-private partnership and is represented by Minister for Industry, chief secretary and secretaries, FNCCI, NCC and CNI and other organizations like TU Academic Council.