KATHMANDU, MARCH 18
Chief of Economics Department at Tribhuvan University, Prof Dr Ram Prasad Gyawali, said people had expected stability through long-term policy on national economy once the new government is formed.
We can expect policy stability to usher in economic develo0pment and political stability after the formation of near two-thirds majority government, Dr Gyawali said, suggesting that the new government could prioritize reconstruction of damaged infrastructures during the Gen Z movement and create atmosphere for investment from the private sector.
Talking to the Rastriya Samachar Samiti (RSS), Prof Gyawali viewed a full term government is in sight, which would be instrumental in bringing long term economic policy and activities to spur developments. "In the five-year term, new government should cater clear policy and stability so that people's expectation of change and development could be realized," he stressed.
The formation of near two-thirds majority government is an end to the trend of recurring change in governments, which, he argued, had caused uncertainty in industrial and investment sector. Prof Gyawali said, "Once the reconstruction of damaged structures is prioritized, it helps in creating an atmosphere conducive to investment. Investment promotion later contributes to making economy dynamic."
He, however, observed that investment from private sector was yet to see improvement. Slight increase was recorded in government investment lately. Private sector needs moral boost by the government because they suffered much during the uprising last September.
"Building trust and stability is urgent to restore private sectors' morale," he said, adding that government can assure safety to the private sector investors, thereby making economy dynamic.