Federation of Nepalese Chambers of Commerce and Industry, FNCCI, the umbrella organization of Nepal's private sector businesses, elected the new set of its executives, Pradeep Jung Pandey as its President, in mid-April 2014. FNCCI marks a half-century of its establishment this year, which adds the responsibility to the new leadership to steer ahead the organization in a manner that is apt for a representative private sector institution in the twenty-first century global business parlance. This means making Nepal not only investment-friendly but also enabling her to actually attract such investment, particularly the foreign direct investment (FDI).The business community cannot also shirk away from alarmingly growing foreign trade imbalance, over-dependence in workers' remittances and labour market distortions due to out-migration of working age population.

 

In addition, it has home-specific challenges and issues that need to be addressed in due course of time. The new leadership has a particular challenge to compensate to the past couple of years’ lack lustre performance of FNCCI, which by virtue of being an umbrella body should have acted as a quintessential national organization. It would perhaps not be a tall task for this organization of relatively high repute and recognition to play a more constructive role in creating overall better business climate and instilling confidence to potential investors, both domestic and foreign.

 

The efficacy of FNCCI in the immediate past had been victim of factionalism, political colouring, lateral entry of essentially non-entrepreneurs at the leadership level, and misplaced priority of the leadership that hindered the organization from taking newer heights. Unfortunately, during the election for the current leadership too, the factionalism was aggravated to absolutely unnecessary levels of bitterness. But, ultimately, the business community has made the decision and put the real entrepreneurs and young generation at the helm of affairs. 

 

It is high time for FNCCI to elevate itself up from the role of a mere lobbyist that invariably chooses to demand rebates or facilities for businesses to a constructive, research-based and politically independent organization where the nation can turn to for meaningful solutions of the economic and developmental problems. Ideally, by now, for example, it should have been able to frame a feasible framework for country's proposed fiscal federalism. The collective official opinion of the entire private sector as an institutional vision is extremely important for the country to adopt a workable development model and prioritize the investment sectors, among several other vistas of the growth and development. In many countries, when it comes to business and economy, the voice of private sector organizations is deemed more influential than those of politicians. Such strength only comes by rising above the petty vested interests to address the national needs.

 

Pandey as the new president has a dual responsibility. No doubt he has the experience of more than two decades in FNCCI, but he again needs to prove that his ideas and creativity have not exhausted and can infuse a new sense of vision that fits 'New Nepal'. Second, he must be able to erase the line that divides the business community in the name of faction, personal loyalty or party politics. He in fact has a unique opportunity to work with completely newer generation of business leaders than the ones he started to work with two decades ago. The young brigade with modern education, exposure to up-to-date technology and with cosmopolitan outlooks can bring about a much-required timely change in the functioning of FNCCI. Only thing they need is the inspiration and right nudge. Equally important is that the 'next generation' think not like politicians of this country but as true business community leaders rising above any hue of political divide, which the country is now plagued with.