Reaction on formation of new government

KP Sharma Oli, chairman of the Communist Party of Nepal-Unified Marxist Leninist, has been elected the 38th Prime Minister of the country. With this victory, he’s all set to lead the new government. The Himalayan Times talked to some of the prominent personalities to get their views on areas Oli’s government should focus on to ensure economic stability.

Don’t reinvent wheel

Swarnim Wagle, Member, National Planning Commission

The new government led by CPN-UML Chairman KP Sharma Oli should not try to reinvent the wheel. Rash efforts to do something new will not yield desired results. The CPN-UML was part of the government led by the Nepali Congress. So, it should give continuity to existing policies to ensure predictability and certainty. Also, Nepalis have long aspired for political stability. The new government should work towards fulfilling this desire of people. It should also lay a solid platform for a higher economic growth trajectory. For this, the government should attract domestic and foreign investments, and frame necessary medium- and long-term policies.

Address genuine Madhesi demands

Khadga Bahadur Bisht, President, Independent Power Producers’ Association Nepal

The new government should first ease supply of all commodities, including petroleum products. It should then frame a concrete country strategy on energy security. This strategy should chart out ways to gradually replace use of fossil fuel with electricity generated through water resources. We know it is not possible to replace use of petroleum products with hydroelectricity. So, in short-term, government should start importing petroleum products from other countries and expand storage capacity of Nepal Oil Corporation. In the coming days, it should also allow the private sector to build transmission lines and let Nepal Electricity Authority enter into power purchase deals with independent power producers (building over 100 MW projects).