LETTERS: Jobs at local level

have no doubt about the local level elections which will be held on May 14. But, at the same time, what I personally feel is that the number of jobless population is increasing significantly due to lack of work opportunity within the country.

The situation within the country would have been beyond the imagination of economists and planners had there not been an exit door for thousands of youth seeking a job in foreign lands, which has helped relieve the political pressure valve.

But none of the governments formed after the restoration of democracy in 1990 has done something important to create sustainable jobs within the country which has immense potentials if all productive sectors are tapped, be it in agriculture or tourism or in infrastructure.

No nation has gained economic prosperity making its youth force jobless. It is the duty of the government to create job opportunity by opening up various projects that can absorb thousands of youths.

The government has set up an institution with a view to providing self-help job with required skills and financial support. But the institution has not been able to make youths self-employed. The budget allocated for youth employment has just been a waste of resources.

The upcoming local level election will elect more than 36,000 representatives and they will also draw some sort of salary from the state coffers. The burden to pay them will fall on the taxpayers. There will also be elections for Pradesh assemblies, House of Representatives and National Assemblies.

Will these elected representatives create jobs for youths at local levels or will they get employed for doing nothing substantive in productive sector? Elected institutions are important in a democratic system.

Saroj Wagle, Bara

FDI policy

Apropos of the news story “Domestic investment necessary to attract FDI” (THT, April 3, Page 10), FDI talk is easier said than done.

The crucial question is: Are we ready for FDI? Are all our policies, rules and regulations in place for FDI? Next, we should stop ranting about tourism, hydro, handicrafts and agriculture as the areas for potential FDI interest.

Let FDI choose its own area of interest and expertise to reap profit from Nepal just as TeliaSonera harvested. What about banks and insurance? Why are we not talking of investment in banks? In view of the capital crunch in the banking sector, FDI in a bank would be a great deal.

Imagine a Deutsche Bank or a Goldman Sachs or an USB setting up branches here as a FDI deal. The international financial institutions can bring financial changes in the country.

We should open our financial and insurance sectors for 100 percent FDI if the country wants to benefit fully. And what is the government doing to inspire domestic investment?

Manohar Shrestha, Kathmandu