Chandra Dhakal, president of Federation of Nepalese Chamber of Commerce and Industry (FNCCI), has stated that the NADA Auto Show is highly significant. Speaking at the inauguration of the NADA Auto Show held on Tuesday at Bhrikutimandap, he remarked that the economy is gradually stabilizing.

"In the past few years, the economy was not in good shape. But since last year, we have seen a rise in market demand. This has been possible due to the collaboration between the government and the private sector," he said. "The government implemented 30 policy reforms and facilitated processes by incorporating suggestions from the private sector, which has contributed to the improvement of the economic environment."

Speaking on banking and finance, he mentioned that interest rates coming down to single digits have also made investment easier.

"EVs have also contributed positively to electricity consumption," he said. "However, with the sudden implementation of Euro-6 emission standards, opening Letters of Credit (LCs) for newly ordered vehicles has become difficult, and the business community has requested more time."

He pointed out that the sudden enforcement of Euro-6 regulations has impacted entrepreneurs who had pending LCs. “Because of the immediate enforcement, investments made by entrepreneurs like us are now stuck,” he said.

He stressed the need for government policies to be favorable for the automobile sector. "We recently launched a 10 billion equity fund, which could help advance projects worth 40 billion. Entrepreneurs have been increasing investment in projects like tourism and hydropower,” he said. “The agreement to export electricity has also encouraged private investment.”