Many businesspeople believe promulgation of new constitution will end long-running political transition and pave the ways for economic prosperity. They are hopeful that political leadership will now put economic issues in priority. "We now have a democratic constitution written by people. It is a historic occasion for all," Pashupati Murarka, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said. "We are hopeful that development activities will gain momentum."The inclusion of 'socialism-oriented economy' instead of 'open-market economy', however, has planted seeds of doubt in their mind.
"Though the long-awaited dream of constitution has materialized, we cannot expect the situation turn better overnight. Time has come for the government and political parties to implement in practice what they have pledged.
He also suggested to the government to ensure their presence throughout the country. "The government and the political situation should normalize the situation in Tarai districts by addressing their woes," added Murarka.
Similarly, Hari Bhakta Sharma, senior vice president of Confederation of Nepalese Industries (CNI) said political leadership should make sure that promises made by them is duly fulfilled. "Our economy has been hit hard by the earthquake. The government should implement programs to revive economic activities in quake-hit districts," added Sharma. Stating that development activities cannot get pace in the absence of local bodies, he suggested to the government to hold election for local bodies at the earliest.
Likewise, Posh Raj Panday, executive chairman of South Asia Watch on Trade, Economics and Environment (SAWTEE), said the political leadership should now devise strategies and plans for economic development. "Promulgation of new constitution has opened the track for economic prosperity. Political leadership now come up with immediate and long-term development plans for economic development," he added.
Stating that Nepal's trade deficit currently stands at Rs 7 billion, Panday said: "Efforts should be made to make Nepal a production-based economy," he added.
Stakeholders also said the government should endorse all pending economic acts, adopt open market economy, and ensure fair and competitive market to achieve better economic growth.
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