National Planning Commission Vice Chairman Calls for End to Rent-Seeking in Private Sector

Kathmandu. National Planning Commission Vice Chairman Gunakar Bhatta has stated that the private sector's contribution to Nepal's economy is significant, and the tendency to seek special favors through policy influence (rent-seeking) must be abandoned. Speaking at a program organized in the capital, he pointed out that the main problem of the private sector is to seek favors favorable to its own interests by manipulating policies.

Although the private sector's role has been remarkable in the liberalization and policy reforms that have been happening for the past three-four decades, there are some tendencies in society that view this sector critically, and it is necessary to move beyond such bad habits, he said. According to Vice Chairman Bhatta, the private sector should not encourage rent-seeking behavior by unnecessarily lobbying for policy rules.