CNI urges political parties to prioritise economy in manifestos
KATHMANDU: Confederation of Nepalese Industries (CNI) has urged political parties to prioritise economic issues in their manifestos for the upcoming elections.
Addressing a programme held in Kathmandu today, CNI President Birendra Raj Pandey stressed that a government should be formed within the stipulated time and that both political and economic solutions should be achieved. He said, "It appears that only the political agenda is being prioritised at present, but a clear plan and roadmap are essential for improving the country’s economy."
Pandey stated that, although political changes occur in the country almost every decade, the country’s average economic growth rate has not significantly improved. According to him, the declining contribution of the production and industrial sectors to the economy and the increasing share of the service sector in recent years are worrying.
The CNI president said, "Increasing the contribution of the production sector to the economy is the need today. Without this, long-term economic stability is not possible." He stated that the economic growth rate could not be achieved due to issues such as weak capital expenditure, investment not expanding despite sufficient liquidity, and policy instability.
CNI has suggested that, to improve the economy, an investment-friendly environment must be created, annual changes to tax policy should be stopped, administrative hurdles reduced, and the situation in which multiple agencies must be approached for the same task should be ended. Pandey also mentioned that doing business is difficult due to numerous regulatory structures. He emphasised that, alongside political stability, accelerating the economy should be the main goal now, and noted that although political parties have strong commitments in their manifestos, implementation tends to be weak.
CNI has recommended adopting policies that promote entrepreneurship, maintaining good governance, completing large infrastructure projects on time, prioritising IT-based enterprises, strengthening energy security and giving special attention to promoting tourism. Similarly, policies should be formulated to derive greater benefits from forest products, and political parties should be serious about attracting domestic and foreign investment in the mining and mineral sectors, according to CNI.
CNI Senior Vice President Nirvana Chaudhary said that unemployment within the country is currently the biggest problem. He stated that discussions and interactions will be held with senior leaders of all political parties to create a clear roadmap for sustainable economic development alongside political stability in the upcoming elections.
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