Prepare For Prosperity


Nepal's prolonged political and constitutional transition has come to an end with the country successfully conducting the local, provincial and federal elections in the last few months as per the republican constitution promulgated two years ago. The nation is currently in the process of organising the National Assembly elections to give full shape to the national parliament. The countrymen expect that the nation will soon get a stable government in the centre as well as the provinces that will lead the state on the path of economic prosperity. Nepal has always been perceived as a nation richly endowed with natural and cultural resources and holds the prospect of rapid economic development within a short span of time provided we create an investment friendly environment in the country. But this potential has so far been limited to rhetoric while a large chunk of population languishes in poverty and the youths continue to leave the country in search of jobs abroad. This is largely attributed to political instability in the country combined with frequent changes of government and the economic policies thereof. Now that the people have given a clear mandate to the Left Alliance to lead the country for the next five years, things are expected to change for the better. There is wide anticipation among the public that the country will get a stable government which will play a vital role to create an investment friendly environment and attract more domestic and foreign investment.

In fact, this optimism is not limited to the general public alone, but has swept the upper echelons of society as well; addressing the inaugural ceremony of Ratnanagar Festival in Chitwan the other day, Vice-President Nanda Bahadur Pun noted that the country had now entered into a new era of economic prosperity. He noted that Nepal's political transition had come to an end and the country would soon have a stable government that would pave the way for an investment friendly environment. Strategically located between India and China, Nepal is abundantly endowed with water and other natural resources and a large segment of its 29 million population is ready to toil for the advancement of the country. So it holds the potential to attract huge investment in hydropower, tourism, infrastructure development, mines, agriculture and other areas. This is indeed a likely scenario; however, the road to economic prosperity is not straight and smooth. Different forces are active to derail the formation of a Left Alliance government despite their winning a comfortable majority in the recent elections. The people are fearful these forces may create rifts between theUML and the Maoist Centre and even break the alliance. In that case, the country will once again be bogged down in political uncertainty while people's dream of economic prosperity will be shattered. So these two political parties should understand the mandate given by the public and act cautiously. The private sector, on its part, must join hands with the government to realise people's dream of living in a prosperous nation.


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