सिंहदरबार संवाददाता
Kathmandu. Economist Keshav Acharya has said that if the government is unable to implement the commitments made in the past investment summits, it will only tarnish the country’s reputation if it holds another investment summit. Economist Acharya made this comment regarding the investment summit to be held by the government on Baisakh 16 and 17.
He said that although the government made commitments of 14 trillion rupees in the 2073 BS investment summit and 33 trillion rupees in the 2076 BS investment summit, the state machinery has not been used for implementation. He claimed that a country that is not interested in implementing the commitments made for investment will only tarnish the country’s reputation if it again shows a spectacle in the name of the investment summit. Similarly, economist Acharya also opined that it was not the right time to hold the investment summit.
He said that it would be difficult to make the investment summit successful at a time when the private sector and farmers are not happy and microfinance, cooperatives, and metered rate victims are protesting. He said that even with the current liquidity of Rs 6 trillion in banks, it has not been possible to create an environment for people to go to banks to take loans for investment. He claimed that there is no possibility of foreign investors coming to Nepal to invest in Nepal when the government is unable to trust investors within the country.
He said that Nepal has not sent a good message to the international community due to the frequent changes in the government equation in the country. Economist Acharya said that it is necessary to trust the private sector to make the investment summit successful. He said that the government needs to debate with experienced politicians, employees, professors, artists, and writers for the country’s prosperity. He said that the state needs to protect farmers, industrialists, and businessmen to make the investment summit successful.
He informed that the preparations for the investment summit that the government was supposed to hold were not complete. He suggested that the government should be ready to showcase projects with clear details on the return, cost, staff, and construction completion period of 100 projects including DPRs for the investment summit.
He said that at least the government should be able to showcase projects in hydropower, tourism, agriculture, IT, hotels, and infrastructure. He said that it is necessary to maintain political stability as the message has been sent to international countries that Nepal is not a politically stable country.
The suggestions given by economist Acharya for the investment summit are as follows:
1. It is not the right time for the government to hold an investment summit. The private sector is not happy. Farmers are not happy. Microfinance, cooperatives, and meter interest are said to be victims. Farmers are throwing milk on the streets. Money is piled up in banks. There is liquidity worth 6 trillion. Bank interest rates have come down from 17 percent to 11 percent. It will come down to single digits in the next two to three months. They are not going to take loans. When investors within the country do not have confidence. There is no possibility of foreign investors coming and investing in Nepal. In that too, the government equation has changed. Nepal has not sent a good message to the international community. A few months ago, industries suffered power cuts.
2. The main task of the government is to take the private sector into confidence, sit with old and experienced politicians, employees, professors, artists, and writers and discuss what will develop the country now. Farmers, workers, and industrialists should also be asked. Let’s take the right to consumption from the time multi-party democracy came. We did not talk about the rights of producers. Now we should talk about farmers and industrialists. The state should protect them.
3. The government has not prepared for the investment summit that it is supposed to hold. There are 100 projects with DPRs to be showcased at the investment summit. They should prepare and show their returns, cost, staff, and time frame. Hydropower, tourism, agriculture, IT, hotel, and infrastructure projects should be demonstrated. Foreign investors cannot come and do all the work by hiring engineers in Nepal’s projects. The state should invest and prepare the projects.
4. Politically, Nepal is not a stable country. The message has been sent to international countries. There has been false propaganda that the current power imbalance is also caused by China. The government should be able to make its point clear. The government should take the private sector along. Currently, it is good in sectors such as cement, medicine, footwear, etc. We should suggest how we can attract foreign investors by including them.
5. The Nepalese government held an investment conference in 2073 BS. A commitment of Rs. 14 trillion was received. A commitment of Rs. 33 trillion was received in the investment conference in 2076 BS. There is a Chinese embassy. They are taking it lightly. Our government could not do it. The state bodies have not yet followed up on the commitment made in the investment conference. The state machinery should be active in fulfilling the commitment. Investment conferences that fail to continue the commitments of past investment conferences and are held for show only bring disrepute to the country.
News Agency Nepal
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