KATHMANDU: Prime Minister Sushila Karki has reaffirmed the government’s commitment to establishing a sustainable, efficient, and inclusive social security system.
Speaking at the 8th Social Security Day program, PM Karki said social security is the foundation of social justice and that building an equitable society without comprehensive social protection is impossible.
She highlighted that a contribution-based social security system would balance intergenerational costs and strengthen social cohesion. “Such a system creates a framework where the able support the less fortunate, the wealthy assist the poor, and the healthy help the sick, contributing to a productive society,” she said.
The Prime Minister noted that the contribution-based Social Security Act of 2074 (2017) provides a crucial framework through tripartite coordination among the government, employers, and workers. She said effective implementation of the law will create an environment where citizens can work domestically.
To make the system sustainable, PM Karki said discussions are ongoing with relevant ministries on ensuring mandatory participation for formal sector workers, government co-contributions for informal sector workers, effective participation of contractual employees, and proper utilization of the fund as internal capital with justifiable returns.
She urged the private sector to view social security for workers as a “pride, not a burden” and emphasized the urgent need for policymakers and businesses to strategize on effectively utilizing the growing social security fund for nation-building.
PM Karki added that investments of the social security fund, contributed by both workers and employers, must yield meaningful results, serving as a key source of internal capital in Nepal’s journey toward prosperity.
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