"Enabling CIIA to investigate private sector will backfire"

KATHMANDU, APRIL 25:   The umbrella organisations of the private sector have opposed the proposal to bring the sector under the jurisdiction of the Commission for    the Investigation of Abuse of Authority (CIAA).

Issuing a joint press statement yesterday, the Federation of Nepalese Chamber of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC), and Confederation of Nepalese Industries (CNI) did so. 

"The bill for amending the "CIAA Act 1991 that was recently passed by the National Assembly proposes to enable the anti-graft body to keep tabs on the private sector.  If this really happens, the industrial/business entities will be discouraged and their productivity eroded," the release laments adding,"  The erosion of the productivity of the private sector amounts to a further blow to the already battered economy."

They also argue that authorizing the CIAA to investigate the private sector will be strictly imprudent as there are already Nepal Rastra Bank (NRB), the Department of Money Laundering Investigation (DMLI), and the Department of Revenue Investigation, etc to do the same.