April 26: The Confederation of Nepalese Industries (CNI) has emphasized the need to restore confidence in the industrial and business sectors to stimulate economic growth. 

During a meeting with Minister for Labour, Employment and Social Security Sharat Singh Bhandari on Tuesday, the CNI highlighted the negative impact of declining demand on businesses.

The leaders of the CNI, including its Chair Bishnu Kumar Agrawal, expressed concern about the lack of confidence among entrepreneurs due to high interest rates, liquidity crunch, and other challenges in the banking system.

The delegation of CNI led by its chair Agrawal urged the government to expedite capital expenditures to improve the economy and implement flexible policies that will increase demand and reduce illegal transactions across the border. 

In response, Minister Bhandari acknowledged problems and assured the business community of the government's commitment to increasing capital expenditure. 

“The government will address the concerns of the business community by implementing appropriate policies to instill confidence to reinvigorate the economy,” Minister Bhandari assured.