CNI unveils ‘to-do list’The Confederation of Nepalese Industries (CNI) on Friday unveiled several “to-do lists” for the current left alliance government to attain high levels of income per capita by making the country an attractive investment destination.
The Confederation of Nepalese Industries (CNI) on Friday unveiled several “to-do lists” for the current left alliance government to attain high levels of income per capita by making the country an attractive investment destination.
The CNI said that the government needs to achieve a per capita of $3,000 by 2030 and presented seven ‘to-do lists’ to the government. CNI, an umbrella body of manufacturing and services enterprises, has urged the government to focus on developing skilled manpower at provincial and local levels, ensuring good governance to achieve high economic growth rate which will ultimately boost Nepalis’ income by nearly four-fold in the next decade.
As per the to-do list, the CNI has also asked the government to promote competitive, accountable and transparent management system, focus on developing knowledge infrastructure and developing the culture for disciplined protests.
CNI President Hari Bhakta Sharma urged the government to prioritise the sector that can generate employment. “To achieve economic prosperity, the government needs to ensure good governance and identify potential projects to bank domestic and foreign investment,” he said, presenting a paper on a theme entitled ‘Road Map of Economic Prosperity.’
The CNI has also sought the government to devise separate strategy for timely completion of the national pride projects. “The bureaucracy must show strong commitment to implement projects through fast-track mechanism or launching ‘one stop’ services,” Sharma said. “There is a need for identifying mega projects at provincial level to generate jobs.”
High cost of production and doing fair business is one of the key challenges that the economy has been facing at present, according to the CNI. Besides, escalating bank interest rates, lack of accountability and growing red-tapism, shortage of raw materials, poor industrial infrastructures including inconsistent energy supply, cartel and weak market monitoring are the main challenges for the new government, it said.
The CNI has also urged the government to revise the existing laws that include Consumer Protection Act, Customs Act, Land Acquisition Act, Company Act, Bonus Act, Patent Design and Trademark Act and Food Act among others.
Speaking at the programme, participants stressed on the need for good governance, effective implementation of public policy, introducing strategic partners in key areas including aviation industry, enforcing digitalised service in payment gateway and institutionalising the democratic practices.
Shankar Sharma, an economist, said that the government should come up with a plan to address growing trade deficit by taking into account the promotion of irrigation system and high value crops and improvement of value chain, road connectivity and financial system.