Bowing down to CNI´s pressure, the Ministry had last week authorized CNI to issue CoO. [break]
FNCCI had, for years, been enjoying an exclusive authority to issue CoO for exportable Nepali commodities. Issuing a press statement on Sunday, the apex organization of Nepali business sector said the new decision would affect the entire system of issuing CoO and tarnish the credibility of CoOs issued from Nepal.
FNCCI also stated that the decision would make negative implication on trade with neighboring countries, mainly preferential trade with India, in the coming days.
“The decision will also create division among business organizations by pitting them against each others,” the statement added.
FNCCI has also warned that business organizations would take to streets if the decision is not corrected.
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