The Central Working Committee (CWC) of the Nepali Congress (NC) endorsed its economic policy draft that will be tabled at the party’s Mahasamiti meeting.

A committee formed under the headship of Co-General Secretary Prakash Sharan Mahat had presented the economic policy draft at the party Central Working Committee on Wednesday. The policy has accorded priority to sustainable economic growth and high productivity.

Former finance minister duo Ram Sharan Mahat and Gyanendra Bahadur Karki and central member Chandra Bhandari had offered their suggestions on policy proposal.

Party spokesperson Bishwo Prakash Sharma said the policy has been endorsed with modifications by incorporating the suggestions floated at the central committee meeting.

Speaking at Monday’s meeting, former finance minister Mahat said the policy should not be like party’s manifesto while another former finance minister Karki said the Nepali Congress should adopt the policy of distribution-oriented economy along with economic growth.

The proposal states that the KP Sharma Oli-led government is heading on the path to authoritarian rule and institutional corruption.

These sorts of government activities have made the investors insecure, decreased foreign investment by 75 percent, failed to improve domestic investment and showed signs of capital flight, the Nepali Congress said.

“The increasing trade deficit, escalating interest rate and high tax rate have discouraged the investors,” the proposal stated. The Nepali Congress has claimed that the government’s slogan of ‘Prosperous Nepal and Happy Nepali’ will be limited only in paper.

The Central Working Committee will amend the proposal drafted within a span of two months and will be tabled in the Mahasamiti meeting.

The document will be the party’s official economic policy after it is approved from the Mahasamiti meeting.

Claiming that the Nepali Congress had left Rs 257 billion in the state coffers before the Nepali Congress government under Sher Bahadur Deuba stepped down, the party said that the government’s white paper was bogus.

“Trade deficit has increased at the present. The foreign currency cash reserve has been depleting. The World Bank in its report has already said that the environment for investing has been getting worse in Nepal," the Nepali Congress said.