Himal Press 
KATHMANDU: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed serious concern over recent arrests of industrialists, entrepreneurs, construction businessmen, and bankers.
In a statement issued on Thursday, FNCCI said the arrests, carried out under the pretext of investigating financial irregularities, have sent a negative signal to investors and disrupted confidence in the private sector.
The umbrella body of the Nepali private sector also warned that detaining high-profile figures from the private and banking sectors “in the manner of criminal offenses” risks undermining the backbone of the country’s economy. It also cautioned that the arrest of bank executives for recovering loans—funded by public deposits—could damage the credibility of the banking system and weaken decision-making on credit flow.
FNCCI also criticized the practice of arresting entrepreneurs before completing preliminary investigations and subjecting them to a media trial. “Such actions harm the dignity and reputation of those involved, it added.
It also urged the government to ensure that investigations are conducted confidentially and that cases involving civil liabilities are handled through appropriate legal processes.
The private sector body also called on the government to foster a business-friendly environment that reassures investors and encourages greater investment rather than discouraging it.
The FNCCI’s comment came after police arrested Nepal Investment Mega Bank (NIMB) CEO Jyoti Prakash Pandey on Wednesday on the charge of auctioning of assets pledged to it by Smart Telecom. A few days ago, police took Ramesh Sharma of Sharma & Company, a construction company, to the Ministry of Physical Infrastructure and Transport, allegedly on the instruction of Minister Sushil Lamsal.
