The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has welcomed the Ministry of Finance's decision to establish a high-level Economic Reform Commission.

In a press statement released on Saturday, FNCCI President Chandra Prasad Dhakal expressed the Federation's positive reception of the move. "The FNCCI has been advocating for a high-level commission to coordinate economic reform efforts. I would like to thank the government for prioritizing our proposal," President Dhakal said.

The statement highlighted that the FNCCI, as the umbrella organization representing Nepal's private sector, had earlier submitted a proposal advocating for the formation of a high-level commission to spearhead economic reforms. This proposal was rooted in the urgent need to achieve sustainable economic development by revitalizing the national economy.

The federation also underscored the importance of addressing the lack of coordination among economic sectors and the limited access of the private sector to policymaking processes. Additionally, it called for the development of both immediate and long-term plans to strengthen the economy.

The FNCCI expressed gratitude towards the Ministry of Finance and Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel for prioritizing the formation of the Economic Reform Commission in the ministry's 100-day action plan.

The federation also proposed a framework for the commission's operation in a cost-effective manner, the statement added. -- RSS