The private sector expresses concern over the arrest of KMG Chairman Sirohiya

KATHMANDU, May 24: The private sector has expressed deep concern over the arrest of Kailash Sirohiya, chairman of Kantipur Media Group, stating that the arrest has further damaged the morale of entrepreneurs.

In a joint press release issued by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industry and the Nepalese Chamber of Commerce, Sirohiya’s arrest was highlighted as being of grave concern.

The private sector argues that actions such as arrest and detention based on complaints do not send a positive message, worsening already low business morale.

“We strongly believe that any person found to have violated the law should face legal consequences. However, we emphasize that resorting to arrests and detentions based solely on complaints does not create a favorable business environment,” the joint statement reads.

The statement mentioned that there is a disturbing trend of arrests without individuals being given the opportunity to tell their side of the story. The private sector argues that such practices create fear among entrepreneurs and businessmen, adversely affecting investor sentiment.