Kathmandu— Govinda Bahadur Karki, Chief Secretary of the Nepal government, affirmed on Friday that promoting the private sector is a key priority for the administration, alongside legal reforms, improved service delivery, and efforts to combat corruption. Speaking at a 'Budget Watch' program in Kathmandu organized by SEJON, Karki detailed the government’s commitment to resolving issues faced by businesses and fostering a more conducive environment for economic activity through updated legislation and enhanced governance.

Focus on Legal and Regulatory Reform

Karki highlighted that outdated laws currently impede development and business operations within Nepal. The government intends to address this by enacting new legislation and amending existing regulations to create a more streamlined and efficient legal framework. This focus aims to remove obstacles hindering both domestic and foreign investment.

Private Sector Support Initiatives

The government is actively pursuing several initiatives designed to support the private sector, including safeguarding private property rights, simplifying business processes, ensuring policy stability, and encouraging innovation. Karki also emphasized efforts to improve financial access for businesses and provide greater support for export activities. He noted significant progress in trade facilitation over the past decade.

Governance and Anti-Corruption Efforts

Good governance and the integration of information technology are considered essential components of Nepal’s digital transformation, according to Karki. The government is also prioritizing corruption control and upholding the rule of law as critical elements for sustainable development. He mentioned ongoing work on an action plan aimed at removing Nepal from international gray lists related to money laundering.

The government continues to refine its strategies for economic growth and improved governance, with a focus on creating a more favorable environment for private sector investment.

(With inputs from RN)

Originally published on abcnews.com.np.