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Victory Of Free Market Economy

  2 min 25 sec to read

The Constituent Assembly (CA) election held on November 19 has concluded peacefully with a record-high participation across the country.
 
Early results and trends show parties contesting with ethnic and regional agenda have lost. Political parties having liberal ideologies including centre-right Nepali Congress (NC) and centre-left Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) are heading towards victory. Out of the results declared for 239 of the total 240 seats under the First-Past-the-Post system, the NC has won 105 and UML 91 seats that makes their combined strength 82%. For the proportional representation system votes, UML has secured 28% and NC 26%. This is likely to yield them a very comfortable majority provided they work together. 
 
Victory of NC and UML is a good sign for economic reasons too since both parties are positive toward free market economy. While Nepali Congress is considered promoter of free market economy in Nepal, UML too is more favourable to free market than  UCPN (Maoist), though some doubts still linger about UML’s tendency towards communist ideological dogma. 
 
Sign of victory of NC and UML has already shown positive impact on the share market. Their victory will further help boost confidence of business community due to their liberal policies. Another good aspect is that UML has in its manifesto vowed not to organize any general strike in the coming days. Hope the party sticks to its commitment.
 
Victory of NC and UML have other political repercussions too. With apparent signs that NC and UML will emerge as near-equal forces, many people have started interpreting this result as people’s mandate to adopt two-party system. While it is still premature to conclude that the people have favoured two-party system, it can be safely said that people are not in favour extremist forces if NC and UML will be able to handle the vexing issues regional and ethnic inequalities in a pragmatic way.
 
People also rejected the atrocities by CPN-Maoist (popularly known as dash Maoist) and despite the 10-day long general strike called by it, people came forward and cast their vote. In doing so they snatched away the previous mandate given to the UCPN Maoist,  and expressed fresh mandate for peace and prosperity. They did not support political parties that frequently created chaos by resorting to violence. 
 
Political parties do not have right terrorize the nation in the name of ‘people’. UCPN (Maoist)’s threat to boycott the new CA shows that they still have to go a long way in proving themselves honest to democracy. Instead of positing their failure on ‘national and international power sources’ it’s time for them to analyze their weaknesses and improve themsemves to face the next election.

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