Confederation of Nepalese Industries Expresses Concern Over Crackdown on Entrepreneurs
April 13, Kathmandu – The Confederation of Nepalese Industries (CNI) has voiced serious concerns over recent crackdowns on businesspeople, stating these actions have created fear within the commercial environment. On Thursday, the Confederation issued a letter of concern highlighting that investigations into economic matters are sending negative signals to investors due to ongoing arrests.
“The Confederation of Nepalese Industries is deeply concerned about the recent arrests of entrepreneurs, construction professionals, and banking officials from various sectors under the guise of economic investigations,” the letter read.
“The practice of detaining leading figures from the private sector and banking industry—key pillars of the economy—in a criminal manner has generated widespread fear across the business community and conveyed negative messages to investors.”
The Confederation also noted that the arrest of banking executives involved in loan recoveries, which are based on public trust and deposits collected from the general public, could potentially harm the reputation of the banking sector.
“Furthermore, these actions may affect decision-making capacity related to loan disbursement within the banking sector and, as a result, the contraction in investments could negatively impact the overall economic system of the country,” the letter cautioned.
The Confederation pointed out that government actions of detaining entrepreneurs before completing initial investigations and the media trial of those individuals also tarnish their personal reputations.
“We urge that investigations be carried out discreetly and that civil liability issues against entrepreneurs be addressed and prosecuted accordingly,” emphasized the letter.
Reaffirming the constitutional right to a dignified life and the presumption of innocence until proven guilty, the Confederation urged the government to approach this matter with seriousness and responsibility.