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Nepal Maoists to embrace capitalism

Prachanda assures business community that CPN-Maoist will work with the private sector to create a friendly environment for foreign investment.

world Updated: Apr 23, 2008 20:25 IST

The Nepal Maoists, who are poised to lead the government after its stunning performance in the elections, are ready to embrace capitalism to bring about an "economic revolution" in the impoverished nation.

The top Maoist leadership, including chairman Prachanda, assured members of the business community led by Federation of Nepalese Chamber of Commerce and Industries (FNCCI) that CPN-Maoist will work with the private sector to create a friendly environment for foreign investment aimed at facilitating economic development in the country.

Prachanda along with his deputy Baburam Bhattarai and his party's economic bureau chief Krishna Acharya held consultation with the office bearers of FNCCI on Wednesdaay amid growing fears that the Maoists rule will lead to nationalisation of major industries and economic hubs.

The Maoist chairman told the delegation led by FNCCI President Kush Kumar Joshi that his party has been trying to create a favourable environment so as to encourage foreign investment in Nepal.

The Maoist leadership assured us that it will include the private sector while formulating its economic policies, Joshi was quoted as saying by the Kantipur online.

Prachanda, who said last week that he would lead the next government in Nepal, urged the FNCCI delegation not to misunderstand the Maoists economic policies.

The new government's priority will be to bring about "economic revolution" by promoting capitalism, Prachanda said speaking during an interaction with the business community last week.