Code of Conduct Concepts

PREAMBLE

 We the members of the business community, with esteemed honour to Nepal’s nationality, national unity and sovereignty; desirous of contributing to the national campaign of creating a prosperous, well-managed and peaceful nation through sustainable socio-economic development; as a part of our continuous effort to improve the living standard of Nepali citizens; issue with commitment this Business Code of Conduct Concepts prepared under the coordination of National Business Initiative (NBI).

1. Believing in a single un-fractured market throughout the country, we uphold the principle that all citizens should have the freedom, within the limits of the law, to conduct his/her business freely in any part of the country.

2. We believe in the overall development of the country through democratic, peaceful and healthy political practice.

3. We believe that any form of destructive conflict has a detrimental impact on the country and the business. We oppose all forms of destructive strikes, bandhs and violence. Therefore, we proactively seek to help resolve the conflict and promote peace.

4. We will continue to extend our active participation and support, through our institutional mechanisms, to the state for formulating new policies and laws or amending existing laws, without any mal-interest.

5. We believe that non-transparent and corrupt malpractices undertaken for momentary gains harm the overall development and credibility of the industries and businesses in the long run. We will identify ways to control such activities and strive to implement them.

6. We will continue our efforts to solve common problems that arise while doing business through consensus and solidarity.

1. Consumer Rights

1.1 While doing our business, we consider the interest of the state and the people as supreme.

1.2. Mindful of the concept of “the sovereignty of consumers” we are committed to the universal rights of the consumers.

1.3. We believe that our products and services should address the security and satisfaction of the consumers along with accurate information.

2. Competitive Market

2.1 We remain committed to and will advocate for open and market-oriented economy.

2.2 We do not support monopoly and unhealthy business practices.

2.3 We believe in healthy fair competition and will support implementation of related laws.

2.4 As the state has adopted open and liberal economic policy and has also become a member of the World Trade Organisation, we believe that the government should create a favorable enabling environment for business and we will support this cause.

3. Taxation

3.1 We express our commitment to timely payment of taxes as per the law of the state. We believe that the taxation system must be business-friendly and the representation of private sector should be ensured in formulating such policies and laws.

3.2 Fairness, transparency, and corporate responsibility are the bases of our work. We are completely aware of our responsibility to achieve the highest degree of integrity, credibility and honesty. We will make our accounts transparent and we expect support from all other sectors to do this.

4. Labour Management

4.1 We respect the legitimate demands of workers/employees, but will not support acts that harm our businesses and the nation.

4.2 We will adopt transparency in procuring materials and recruiting workers/employees required for the business and will procure goods on the basis of quality and recruit individuals on the basis of the individual’s qualification and capacity.

4.3 We believe that all labor disputes should be settled through negotiation and when required through tripartite dialogue between government, labor representatives and business people and we expect positive support from other stakeholders.

5. Environment Protection

5.1 We will strive for sustainable business development by reducing and managing the adverse impacts that our business activities leave or could leave in the environment.

5.2 We strive for promotion and development of environment-friendly business.

5.3 Remaining alert about our social responsibilities, we will strive to fulfill our responsibilities as per the principles of the United Nations and International Business Organisations.

6. Corruption Control

6.1 We respect fundamental human rights and personal freedom of all Nepalese and we believe that the right to legally earn, possess and use personal property should be protected.

6.2 Our business activities will neither support nor oppose any political parties or groups discriminately. But if any act is likely to have an adverse impact on legitimate business, we will protest collectively. We will not give any kind of donation, presents or services/facilities to any political person or party with an intention of gain in the future.

6.3 We express commitment to follow the law of the land. But we oppose actions and procedures that leave adverse impacts on business promotion and create a chance for corruption, such as incomplete laws, long administrative procedures, impractical implementation and unnecessary discretionary power and will collectively support reforms in these areas.

6.4 We uphold the principle that we must not bribe, give gifts, donations, presents directly or indirectly for our business and financial advantage. If any situation is created where we are forced to conduct such acts, we will lodge complaints in concerned agencies. We will not provide any kind of presents, gifts or hospitality other than the ones accepted by our culture and social traditions.

6.5 We will ensure transparency when giving donations and support to any philanthropic organizations or cause, institutions or individuals affected by disaster, helpless individuals or families and the communities.

We are committed to the underlying principles of this Business Code of Conduct and will develop it to suit sectors and companies. We realize that implementation is of crucial importance. To achieve this we expect cooperation and seek understanding from all sectors in Nepal.