Experts insist on gathering investment from the private sector, international and other options for the plan that the government cannot meet the budget
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Experts have emphasized on maintaining political stability and good governance first to improve the economy. In the dialogue seminar on 'Economic Policy Nepal should embrace in the changing global environment' organized by the Economic Policy and Planning Department of the Congress on Tuesday, experts said that the overall economy could not be improved due to bad governance in the country.
In the program, former vice-chairman of the National Planning Commission, Pushparaj Kandel, said that the lack of political stability had an impact on the economy. "There is neither political stability nor stability in the economy," he said. "Government changes in 6/6 months, this is not good." He said that it is important to be clear about the role of the state and the private sector. "It should be clear that the state will do this work and this work will be done by the private sector," he said. Kandel said that there is also a need for improvement in the construction of infrastructure.
Former Chief Secretary Bimal Koirala said now is the time for the government to stand firm. "Government should dare to put only projects that will be completed in three years in the budget," he said.
'Our balance and current account are good. But if it is not used for the development of the country, what will be done with such money?,' he said, 'now the economy of Nepal is in the shape of an English letter, one of which is missing, that means there is no employment, economic progress is not happening. The economy will not improve until we can transform the economy of what size it is.
Congress leader Shekhar Koirala said that corruption should be made zero by maintaining good governance in the country. What is our situation? The Minister of Finance is trying not to put plans below 30 million in the budget, but there is a demand of 2.5 million from the planning ministries, and how can it be improved?, he said. Koirala said that because of the remittances, the economic activities in the country have increased and the Nepalis in the Gulf are protecting themselves. He said, "It should be given to the private sector to build a hydropower project, whether they can build it or not, they should also look at it," he said. "We cannot afford capital expenditure, we have increased current expenditure," he said. According to him, the bureaucracy will also be strengthened. He said that there was a problem with the projects due to the budget. "We started to build the East-West Electric Railway, the budget allocation is 8/9 billion in one plan, 5 billion will be spent on 9 billion, it will take 320 years to complete the project when it is spent at the rate of 5 billion," he said. Let's hold back until the government can do it, don't give it to anyone, if the government can't, let's give it to the agency that can. Be it private sector, international investment, should we work on these options or not?, Pandey said.
Former minister Minendra Rizal said that even though the country has gone to federalism, the government's ability to spend capital has not yet increased. "We prepare a plan as if we were writing an essay," he said. In the program, Asian Development Bank (ADB) former Vice President Bindu Lohani, Economist Revat Bahadur Karki made a presentation on the economic policy that Nepal should embrace in the changing world environment, said Govindaraj Pokharel, Head of Economic Policy and Planning Department of Congress.
