‘Economy can beat political hurdles’

Lalitpur, February 28:

Although political stability is a necessary ingredient for economic development for any country, it does not mean that unless political stalemate in Nepal gets over, the economy of the country can not grow, said Kenichi Ohashi, country director of World Bank, while speaking at an interaction programme.

Ohashi was speaking at a seminar on ‘promoting economy and alleviating poverty’ in Lalitpur. The programme was part of the ‘Interaction on Asia 2015 London Conference,’ being organised by Ganesh Man Singh Education Foundation in collaboration with Asia Development Bank (ADB), World Bank (WB) and Department of International Development (DFID).

Key papers were presented by Dr Sadiq Ahmed focusing on Bangladesh’s experience and Dr Naved Hamid on the insight gained by Pakistan on economic progress and its impact on the fight against poverty.

The papers shed light on the respective countries experiences and achievements in recent times on developing good governance, institutions, private sector and infrastructure, leading to the better health of the economies.

Commenting on the remarkable growth that the Pakistani economy has been able to achieve despite continuing trouble in and around the country, Ohashi underlined the need for Nepal to take a lesson, as well as heart, from such achievements.

He pointed out the possibilities for their replication in Nepal.

Mark Mallalieu, head of DFID in Nepal said that the organisaton has been working for human development in a holistic manner, cutting across issues like poverty, equitable distribution of resources and gender equality, that often hinder development or make it lopsided.

Mallalieu also questioned the government’s inability to reach remote parts of the country for development work when many organisations, including the DFID, continues to function in most areas without much trouble.