'Political turmoil affecting investment year'

Stating that prolonged political situation is taking a toll on nation´s economy, Surendra Bir Malakar, general secretary of the National Business Initiative (NBI) said on Friday the Investment Year 2012/13 has almost failed and that businessmen were looking for other countries to shift their investment.
“Business people are keeping their fingers crossed; the situation is becoming chaotic,” Malakar said in an interaction organized by NBI, an organization working in the field of conflict resolution and establishment of sustainable peace in the country in order to improve business environment. “Many business people are seeking to shift their investment."
According to press release, business people at the interaction shared their common concern over deteriorating business doing environment in the country.
“Political situation is prolonging, private sector won´t prosper in this scenario," Suresh Kumar Basnet, president of Nepal Chamber of Commerce, said in the interaction, according to the release. “We need to develop entrepreneurship to create employment opportunities in the market. It can lead us to a better path.”
The program mainly focused on social corporate responsibility (CSR) of private firms. “We need firms that can make a difference through the CSR programs in society,” DB Subedi , who presented a paper on institutional social responsibility in conflict affected economy, said.