Kathmandu, July 25

Nepal Economic Association (NEA), a national organisation of professional economists, has submitted its suggestions on the draft constitution.

NEA, in a letter addressed to the Chairman of Constituent Assembly Subas Nembang, has strongly recommended giving continuity to open and liberal economic policy to boost the country’s economic development further and attract investment, as per a press statement issued today.

NEA had submitted its suggestions focusing on the economic aspects after holding an emergency executive committee meeting. It says Preamble in the draft constitution is very lengthy and needs heavy editing. Considering scales of economy, limitation of five provinces connecting north and south should be maintained.

It has said that after the adoption of free market economy in the 1990s, the financial sector has been performing exceptionally well and thus, financial governance in the coming days should be maintained as it is.

The statement further says the NEA has sought 30 per cent of budget to be allocated to local provinces while preparing the budget for economic empowerment and improving livelihoods that will ultimately reduce the disparity between the haves and have nots.

NEA has suggested the government to make provisions in the constitution to clearly state economic models giving emphasis on state, private sector and cooperatives to expedite economic progress.

Some of the key points include effective management of social security, clear provision of corruption control through Commission for the Investigation of Abuse of Authority without reducing its authority, and focus on attracting foreign investments, among others.

It has further said as National Planning Commission is a key policy think-tank of Nepal, it has to be recognised as a constitutional body.

Other key suggestions include the reduction of various commissions from the draft constitution, reduction of proportional representations and focusing more on directly elected people’s representatives, special provision in resolving inter-provinces disputes, making strong provisions for strengthening local governance, clear mention of fundamental rights, maintaining economic freedom and linking all customs offices with the centre.