Nepal's Senior Economists

Nepal's Senior Economists
Telegraph Nepal, 22-Apr-08

Prof. Dr. Bishwa Keshar Maskey, Senior Development Economist, Nepal
Transparency needed for private sector promotion

The global economy is going through rapid changes. Such changes are not only intensifying the globalization process but also resulting in greater integration of economies at global and regional level.

We are also passing through a period where the trade flows, technological innovations and business transaction techniques are going rapid changes.

Economic development largely depends to an extent on the existence of supportive legal, financial and institutional framework, therefore the economy needs a major drive in making open, competitiveness and consistencies in policy regime for both domestic and foreign direct investments.

The new government which is in the offing has to be transparent in private sector promotion and concentrate its efforts aimed at furthering the globalization process.

There is already some signals that the new regime will pursue as per its declaration and efforts will be made in this direction. That’s all.

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Professor Dr. Guna Nidhi Sharma, Central Department of Economics, T.U
Maoists basically want State Supported economy

It’s a kind of traditional economy where many fundamental rights are guaranteed, including the right to property, freedom of movement and expression. The Maoists are committed to competition or the competitive economy where we will have free enterprise economy.

What the Maoists basically want is State Supported economy where government intervenes only in the interest of larger society by way of investing in economy and social infrastructure and the supply of basic needs such as basic education, health, rural development, delivery of essential supplies of the goods and services which need social regulations.

The Maoists are mainly guided by the fundamental rights in the interim constitution as for example, the rights to basic wealth and education, food security and employment.

The Supreme Court has already directed to enact acts to these areas of constitutional guarantee.

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Professor Dr. Mahendra Singh, Founder Head of the Central Department Rural Development, T.U
Neglect of Madhesh economy a sin of previous governments

The central goal of peace process in Nepal in my opinion is to build durable, domestic peace. It can be achieved only through promoting liberalization on every front. In political realm, liberalization means promotion of election, protection of human rights and constitutional limitations of the exercise of power.

In the economic realm, liberalization means of movement towards market oriented economic model, public private partnership, and friendly atmosphere for investors and protection of the economic interests of the consumer.

In this context, Maoists seems to be committed to this liberal thesis of peace and prosperity in Nepal.

Their peaceful participation in the recently held election and latest speeches on economic policies clearly indicates they are liberal in their approach.

Reasons are prevailing over their passion. It must be appreciated. However, Maoists should be very much careful while talking about liberal economic policy, the benefits of economic development will trickle down to the majority of the poor in Madhesh, mountains and the hills.

In this regard, cooperation from neighbors and donors will be most important.

Lastly, agriculture is the mainstay of the Nepalese economy and Madhesh in this regard is the rice bowl which has been miserably neglected by the previous governments. Therefore, the fertile land with irrigation support in Terai will ensure durable peace and inclusive development.

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Professor Dr. Pitambar Rawal, Former Head of CEDA
Economy should be productive

The Maoists should have a policy to create more jobs. Without high economic growth, you can’t create more jobs. And for high economic growth, there should be more investment.

The economy should be productive one and another pertinent point is that the all pervasive corruption must be reduced. In this regard, the Maoists should consider certain economic sectors, for example, one is Hydro power and the second is Agriculture.

The Maoists should lay high emphasis on providing irrigation facilities to the farmers and secondly, there should be good extension system of the agriculture.

If you can provide these two facilities, you can even impose higher taxes on agriculture sector as well.

For rapid economic development, is should be a participatory one, it should be a transparent one and taxes can only be better imposed if there is adequate incentives given to the producers and investors.

For all this to happen, the nation should feel confident with the government.

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Prof. Dr. Madan Kumar Dahal, Former HoD, Economics Department, T.U
Address immediate economic crisis

The Maoists party should accord a high priority to resolving the immediate economic crisis facing the country of late, for example, the acute load shedding, shortage of drinking water and that of the petroleum products and rising inflation.

In the long run, there is also the need to implement viable economic programs envisaged in the manifesto of the Maoist party released recently during the election of the Constituent Assembly.

At this critical juncture of decelerating economy, the Nepali people have enormous expectations from the Maoist party.