Kathmandu: Maoist supremo Prachanda, whose party is poised to form a coalition government in Nepal, has said the new regime will encourage private sector and welcome foreign investment but will not accept any dictates while formulating its economic policy.

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 yesterday.

Prachanda told the businessmen that Maoists are not going to nationalise the industries at the moment "and will allow private investment and also promote foreign investment."

"Don't lose confidence, we are not going to capture the industries, but we need your cooperation to gain economic prosperity," he said.

The Maoist Chairman said he is committed to creating conducive industrial environment and providing security to businesses and industries by creating special security force with the involvement of the Maoist combatants stationed in cantonments.

Prachanda also appealed to the private sector to trust them fully and give them a chance saying the government will expand the tax base, eliminate red tape and end the culture of commissions and corruption.

Source : PTI