July 20: Former President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) Pradeep Kumar Shrestha, who is also the vice president of Panchkanya Group, says that although there are immense resources in the country the industries of Nepal are not flourishing due to lack of clear policy of the government.
In a conversation with New Business Age, Shrestha said that the size of the economy has increased, but the government is yet to come up with a clear policy. He complained that the government introduces a policy that helps a handful of industries but forces the closure of 10 industries. He argues that such kind of policy cannot lead to the development and expansion of domestic industries. He said that the government should pay special attention to the formulation of industry-friendly policies.
Shrestha says that the discriminatory policies brought by the government are causing problems.
Shrestha also said that Panchkanya Group always wants to assist in the development of the country. No matter which government is in power, Shrestha says that development is inevitable.
“We have moved forward with the idea of producing the basic goods needed for development internally and we are still on that path.”
He claims that the commercial companies under the Panchkanya Group work by prioritizing customer satisfaction.
According to him, 9/10 industries of Panchkanya Group are operating in the country now. Currently, Panchkanya Group's annual turnover is Rs 8 billion to Rs 10 billion. He said that he has a lot of experience of having to sell goods bought at high prices at low prices.
Panchkanya Group has become known in the country and abroad in its 50-year journey. According to him, the industry is operating in an area of about 14 bighas in Bhairahawa. The commercial journey of the group which started from Panchkanya Plastics in Kathmandu, spread to finance, bank, insurance, trading, housing, and hydropower as well.
Shrestha informed that the third generation is working in all these industries.
