New Nepal Govt. will encourage private investment, says Prachanda

By NNN-Nepal News,

Kathmandu : Maoist chairman Prachanda has reassured the industrialists that the new Nepal government under his party’s leadership will create conducive atmosphere for national and foreign investments.


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During a meeting with the delegation of the Nepal Chamber of Commerce (NCC) on Wednesday, he urged the entrepreneurs not to doubt the intention of the Maoists on economic policy of his party.

Prachanda further said the new government will formulate the economic policy based on the suggestion made by industrialists, economists and traders.

Clearly trying to allay the fears of the business community, the Maoist chairman said that his party would not curtail the profits of the entrepreneurs. He also said his party was ready to work with the private sector.

The NCC delegation asked the Maoist leadership to make clear about their economic policy and public-private partnership.

Meanwhile, a senior US official has said that there has been no change yet in the status of Maoists as a terrorist outfit despite their winning the election. But the official has hinted that there could be review in their legal position.

“We have an organization being placed on the list of designated foreign terrorists organizations. (It) has legal requirements that are placed on us. We have to honour those legal requirements and we’ll certainly do so in the case of Nepal,” State Department’s Deputy Spokesman Tom Casey said.

Hinting of a possible review, he said, “You have an organization that moves away from violence and terror and participates in a political process and engages in those kinds of legitimate activities, that would certainly, I think, give people an opportunity to at least look again at that situation and that organisation,” he said.

“But at this point, you know there’s no change in their status and we’ll follow the law as appropriate”.

The United States had first put the former rebels on its list of terrorist organisations in 2003.

The US ambassador to Nepal Nancy Powell has already indicated that the US would continue helping in the economic development of Nepal in the coming days.

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