The Confederation of Nepalese Industries (CNI) has called on political parties to prioritise economic issues in their manifestoes for the upcoming elections, warning that political agendas are overshadowing the urgent need for economic reform.
Speaking at a programme in Kathmandu on Sunday, CNI President Birendra Raj Pandey said the country must form a government within the constitutional timeframe and pursue political stability alongside a clear economic roadmap.
“Political agendas appear to dominate the discourse, but improving the economy requires well-defined plans and a credible roadmap,” Pandey said.
He noted that despite frequent political changes over the decades, Nepal’s average economic growth rate has not improved significantly. Pandey also expressed concern over the declining contribution of the production and industrial sectors, while the service sector’s share in the economy has continued to rise.
“Increasing the contribution of the production sector is essential. Without it, long-term economic stability is not possible,” he said.
Pandey attributed sluggish economic growth to weak capital expenditure, limited expansion of investment despite adequate liquidity, and policy instability. He said an investment-friendly environment, stable tax policies, reduced administrative hurdles, and an end to overlapping regulatory approvals were necessary to revive the economy.
He also said doing business in Nepal remains difficult due to multiple regulatory structures and stressed that accelerating economic growth should now be a national priority alongside political stability. Pandey added that while political parties often make strong commitments in their manifestoes, implementation has remained weak.
CNI has recommended policies to promote entrepreneurship, strengthen good governance, ensure timely completion of large infrastructure projects, prioritise IT-based enterprises, enhance energy security, and give special focus to tourism promotion.
The private sector body also urged political parties to formulate policies to maximise the use of forest-based resources and to take a serious approach to attracting domestic and foreign investment in the mining and mineral sectors.
CNI Senior Vice President Nirvan Chaudhary said unemployment remains the country’s most pressing challenge. He said CNI plans to hold discussions with senior leaders of all major political parties to develop a clear roadmap for sustainable economic development alongside political stability ahead of the elections. -- RSS
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