KATHMANDU: Economists and analysts have emphasized on boosting productivity to increase the country’s economy.
Participating at an interaction organized jointly by Khabarhub and Institute for Strategic and Socio-Economic Research at the Pavilion Hall to analyze the government’s performance on economic sector in the last one year in Kathmandu, they suggested the government to address this issue to avoid stagnant economy.
Former Minister of Finance, Dr. Prakash Saran Mahat said the government’s performance on economic sector has been discouraging. He said people’s aspirations have been shattered since the government failed to attract foreign investment in the country. “Foreign Direct Investment (FDI) has been decreased by 50 percent,” Dr. Mahat said citing available data.
He criticized the government for failing to control the price hike, control corruption, and failing to create employment opportunities despite assurances and publicity.
“The entire scenario is negative,” he said citing the country’s trade deficit with other countries.
Analyst Bharat Dahal queried as what is barring the government from bringing in foreign investment. He termed the government’s performance as ‘dissatisfactory’ in all sectors.
Advisor to the Ministry of Finance, Dr. Ram Saran Kharel, however, defended the government saying that the foundation has been created for sustainable economic growth in the last one year. “Tax system has been made progressive,” he said adding, “There is no point to be disappointed.”
Dr. Dwarika Thapa expressed mixed reactions over the government’s performance in the economic sector saying that it would be too early to judge the government. He, however, suggested the government towards working to carry out tasks that would increase the country’s economy.
Likewise, stating that the government has brought some encouraging programs such as the Prime Minister Employment Program and Social Security Scheme, Dr. Govinda Bahadur Thapa said the government should work towards increasing the productivity, and bring out some programs that will have direct impact on the people. “Increasing the tax rate is not the need of the hour,” he maintained.
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