Kathmandu, March 5:

Finance Minister Dr Ram Sharan Mahat today underscored the need of exploiting competitive and comparative advantages that Nepal has over other South Asian countries.

“Nepal has human resources, skills and a vibrant private sector that can tap opportunities on time. But instability has marred our competitive strength,” he said addressing a symposium organised by Nepal Economic Association (NEA) here today. Referring to the boom period of carpet and readymade garment, Dr Mahat said those rosy days were not planned. “They were all private sectors initiatives.”

Presenting a paper on ‘Comparative and Competitive Advantages of Nepal’, Prof Bishwambher Pyakuryal, former president of NEA, opined that designing of domestic policy with regional and global compatibility should be a priority.

Prof Pyakuryal further stressed that there is a need for operationalising pending developmental agendas and devising framework for addressing fiscal implications under the proposed federal structure.

“There is a need of simultaneous political and economic restructuring to lift Nepal from the current state of imbroglio,” he said, highlighting the prospects of Nepal’s competitive advantages in agriculture and agro-processing industries, tourism, hydropower and ICT.