PM Karki calls on private sector to rise from the ashes, says government is with it in adversity

Kathmandu: Prime Minister Sushila Karki has called on the private sector to rise with determination from the adverse situation and expressed the government’s commitment to fully support them.

In a discussion with the representatives of the private sector held at the Office of the Prime Minister and Council of Ministers in Singha Durbar today, PM Karki stated that both the state and the private sector are facing a common challenge, citing significant damage to business establishments and industries during the recent Gen-Z protests.

‘There has been such destruction. This has not only affected the private sector, but has also impacted the state. It is unfortunate that the private sector, which has provided employment, is being attacked,’ Prime Minister Karki said, adding that the government is committed to strengthening the rule of law and urged the private sector not to be disheartened.

She said, ‘Do not be distressed at this time, we are with you. It is a positive aspect that the private sector is ready to support the state even when it is devastated.’ In the discussions, Prime Minister Karki expressed a clear commitment that the government will operate within its legal jurisdiction.

‘We will work within the rights we have. We will not operate outside the law. The state will take initiatives to provide relief for the affected industrial and commercial establishments,’ PM Karki said addressing the private sector.

‘Show the spirit to rise from the ashes; the state will assist. The private sector must also help to boost the morale of the security personnel.’

Prime Minister Karki pointed out the possibility of controlling imports and raising taxes if necessary to promote internal production. However, she clarified that there will be no immediate policy for tax increases, stating, ‘Now is not the time to impose taxes. There will be an effort to evaluate the losses and provide relief.’

Regarding the priorities for the upcoming days, Prime Minister Karki said that the election has been taken as the first agenda. She said, ‘The election is our top priority. It is also time to maintain control corruption and ensure good governance.’

In the discussion, Finance Minister Rameshwar Khanal informed that a prompt corrective package will be announced based on the suggestions from the private sector for the improvement of national economy. He mentioned that a practical and implementable plan will be brought by coordinating between financial and monetary policies.

‘A package will be announced encompassing all the suggestions received from the private sector. The proposal has already been submitted to the Cabinet,’ Finance Minister Khanal said.

Emphasizing that special measures are necessary in unusual circumstances, he stressed that the private sector must also fulfill its responsibilities to resolve the current crisis. Home Minister Omprakash Aryal said that normalizing the current adverse situation has been taken as the top priority of the Ministry of Home Affairs.

During discussions with the private sector, he clarified that the home administration has the responsibility to maintain balance to prevent further conflict. ‘Normalizing the current different circumstances is indeed the first priority. The Ministry of Home Affairs will work to ensure that further conflict does not escalate; balance must be maintained,’ he said.

Home Minister Aryal informed that such directives have already been issued to all bodies under the ministry. He further claimed that the good governance was only the manmade of the Gen-Z protests therefore it should be materialized. The Home Minister stated that the ministry is preparing to form a judicial investigation commission to investigate the incidents of arson and vandalism that occurred during the protest.

‘A judicial investigation commission will be formed to study the events that occurred during the Gen-Z protests. It will conduct a study with facts,’ he clarified. According to Home Minister Aryal, although recent events have shown a weakening of the morale of the security forces but the relationship between citizens, the private sector, and security agencies has improved.

Home Minister Aryal expressed commitment, ‘We will prepare infrastructure for good governance and peace and security for free and fair elections.’

Likewise, Chief Secretary Eaknarayan Aryal shared that all ministries should be active to encourage the private sector, adding different incidents like COVID-19, earthquake and blockade had posed serious challenges on country’s economy.

Pointing out the need of taking steps immediately to revive the economy, Chief Secretary Aryal indicated that the cabinet might take decision soon on the issues of customs concession, subsidy on interest for concessional, extending principle and interest payment period.

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