'Blockade' taking toll on economy: Private sector

KATHMANDU, Sept 28: Businesspeople and industrialists have said country's economy has been severely affected by the protest of Madhesi parties and the 'undeclared' trade blockade by India.

Speaking at an interaction organized by Nepal-India Chamber of Commerce and Industry (NICCI) in the capital on Monday, they warned that the current situation will have a long-term impact in country's economy. The industrialists and businessmen also called for resolving the current crisis at the earliest to save the economy from falling off a cliff."Country's economy is passing through the worst time I have ever felt. Our industries have been closed for more than a week. There is no raw materials, no cash to pay the workers, and no petroleum products," Hari Bhakta Sharma, executive director of Deurali Janta Pharmaceuticals Pvt Ltd (DJPL) -- a leading pharmaceutical company of Nepal, said. "The protest and blockade is taking a toll on national economy. As this is a political problem, it should be resolved at the political level," Sharma, who is also the senior vice president Confederation of Nepalese Industries (CNI), said.

Similarly, Shekhar Golchha, executive director of HH (Bajaj), also lamented lack of seriousness among political parties for resolving the current problem through talks. "We have met all the stakeholders. But we did not find any seriousness among both parties to resolve the current problem," Golchha, who is also the vice president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said. "If this problem is not resolved immediately, the damage on our business and the overall economy will be irreparable. This will hit the economy seriously in a way that we will not be able to stand back."

Also speaking at the interaction program, Biratnagar-based businessman Shyam Paudel said local businesspeople were on the verge of coming to the 'footpath'. "Because of the strike running since one and half months, we are not in a position to pay wages, minimum electricity charges and interest on bank loans. The government should come to our rescue," he added.

Shashi Kant Agrawal, vice president of NICCI, took an exception over the reported preparation of the government to find alternatives for import of goods and commodities to overcome the shortage created by the 'undeclared' economic blockade. "People involved in Nepal-India trade are have been affected the most by the ongoing political crisis. If India is infuriating us or we are infuriating India, it is Nepal which is going to lose," he said, adding, "We should improve our ties with India by putting our self-dignity intact."

Commenting on news reports regarding government preparation to find alternative import routes along Nepal-China border, Agrawal, who is also the chairman of Reliance Spinning Mills Ltd, said: "We should look at the practical and sustainable way. We should put our efforts on opening the Indian border," he added.

Let's maintain patience and restraint: Upadhyaya

KATHMANDU (REPUBLICA): Nepal's ambassador to India Deep Kumar Upadhyay has said that the two countries should bury their hatchet to normalize the century-long deep ties. Speaking at an interaction program organized by Nepal-India Chamber of Commerce and Industry (NICCI) in the capital on Monday, Upadhyay said that the country should maintain patience until Indian Prime Minister Narendra Modi makes remark about the current situation. "The need of the hour is to maintain patience and restraint rather than immediately resorting to rally and sloganeering. We should immediately extinguish the fire that has caught our relationship," he said.

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