Chandra Prasad Dhakal, President of Federation of Nepal Chamber of Commerce and Industry (FNCCI) , said that for the economic development of the country, the government should take concrete steps for import substitution and export promotion.

Speaking at a program organized in Kathmandu on the occasion of the 27th Annual General Meeting of the Nepal Export Council and the 9th Export Day, he expressed the view that these two issues should be taken seriously for the economic development of the country. "The government should work according to the policy of import substitution and export promotion.

Attention should be given to how the domestic industrial establishment can be strengthened for import substitution. A corresponding policy should be made and implemented for export as well.

If this can be done, the objectives of both the government and the private sector will be fulfilled. He said. Chairman Dhakal also requested to give subsidies for exports in time as per the government's commitment to encourage private sector businessmen.

He opined that the government can be encouraged by the respect given to businessmen. For this, the government also requested to announce the date of giving CIP and pay attention to the dignity of giving it to businessmen.

Likewise, Chairman Dhakal also requested the Nepali missions abroad for export promotion and foreign investment to give country-specific targets for Nepal's export business and evaluate them accordingly.

President Dhakal held the view that since Nepal will be upgraded from an underdeveloped country to a developing country in 2026, either Nepal should be ready for that or the government should take the initiative to add a certain time.

In the program, Industry, Commerce and Supply Minister Damodar Bhandari mentioned that the interest raised by the private sector is serious towards the government and urged the private sector to increase its competitiveness. In the program, the representatives of various other associations of the private sector urged the government to pay attention to the need for export promotion for sustainable economic development.