Analyzing FNCCI's Call: Why Economic Development Must Transcend Partisan Politics in the 2026 Elections

SYANGJA – As Nepal approaches the upcoming parliamentary elections scheduled for March 5, 2026, the private sector has issued a stern reminder to the political class: the country can no longer afford to keep the economy on the back burner.

Speaking at the inauguration of the Waling Festival in Syangja on Wednesday, Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), urged all political parties to adopt a "Common Economic Agenda" in their election manifestos. His speech signals a growing frustration within the business community over policy inconsistency and the lack of a unified vision for industrial growth.

The "Common Agenda" Philosophy

President Dhakal’s primary argument is that economic development should not fluctuate with a change in government. By calling for a shared agenda, the FNCCI is pushing for policy predictability.

The Interpretation: For years, investors in Nepal have been wary of "political risk"—the fear that a new administration will scrap the projects or tax incentives of its predecessor. Dhakal is advocating for a "National Minimum Consensus" on the economy. If all major parties (NC, CPN-UML, Maoist Center, and others) agree on core issues like foreign investment, industrial protection, and infrastructure, it creates a "Safe Zone" for both domestic and foreign capital.

Focus on Industrialization and Jobs

A significant portion of Dhakal’s address was dedicated to the private sector's role in job creation. He emphasized that the only way to stem the tide of youth migration is through massive industrialization.

The Interpretation: FNCCI data shows the private sector contributes 81% to the GDP and provides 86% of employment. By urging parties to include private sector-driven agendas in their manifestos, Dhakal is asking for a shift from a "Distributive Economy" (spending on social security and populist projects) to a "Productive Economy" (investing in factories, energy, and tourism). This is a call for a Supply-Side Reform where the government acts as a facilitator rather than a competitor.

The Success of the High-Level Reform Commission

Dhakal highlighted the recent formation of the High-Level Economic Reform Commission as a success story of private-sector advocacy.

The Interpretation: The fact that the government accepted FNCCI's demand for this commission—and is already implementing some of its recommendations—shows that the private sector is currently in a strong "Bargaining Position." Dhakal is using this momentum to ensure that the commission's long-term suggestions (like labor law reforms and tax simplification) don't get lost in the pre-election noise.

Legal and Institutional Modernization

The President also touched upon his tenure's achievements, including the amendment of traditional laws that hindered investment and the modernization of FNCCI’s own internal statutes.

The Interpretation: This is a subtle message to political leaders: If the FNCCI can reform itself to stay relevant, why can't the state? By amending over 30 investment-related laws (through ordinances and legislative action in 2024-2025), a foundation has been laid. The 2026 election, in Dhakal's view, should be about building on this foundation rather than reinventing the wheel.

The Bottom Line: A Challenge to Political Parties

Chandra Prasad Dhakal is essentially throwing a gauntlet to the political leaders. As parties prepare their manifestos for the March vote, the "Waling Declaration" serves as a checklist.

Will the parties choose populist slogans, or will they adopt the FNCCI’s roadmap for a $100 Billion Economy? The private sector’s support—and more importantly, the country’s economic stability—will likely follow the party that demonstrates the most serious commitment to this "Shared Economic Vision."