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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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'description' => 'Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. Dr. Kamal Raj Dhungel, Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s Angila Sharma, Excerpts:',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<div>
<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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“Government Is Supressing Private Sector’s Growth”
6 min 43 sec to read
Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. Dr. Kamal Raj Dhungel, Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s Angila Sharma, Excerpts:
What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.
Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.
What is it that is lacking in our monitoring system?
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.
There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.
Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity
It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.
In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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'description' => 'Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. Dr. Kamal Raj Dhungel, Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s Angila Sharma, Excerpts:',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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'description' => 'Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. Dr. Kamal Raj Dhungel, Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s Angila Sharma, Excerpts:',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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<span style="font-size:15px;">Private sector is a crucial component and contributor to national development. However, sometimes it fails to play proper role. <strong>Dr. Kamal Raj Dhungel,</strong> Associate Professor of Central Department of Economics, Tribhuwan University, recently discussed existing relationship between private sector and government and investment climate in Nepal, with The Corporate’s <strong>Angila Sharma, Excerpts:</strong></span></div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What can the Nepali economy expect from the success of the recent CA elections and the formation of a new government?</strong></span></div>
<div>
In this historical election, no party gained majority and so the government will be a coalition one. If the coalition government comprises of CPN-UML and Nepali Congress, it will be beneficial for the private sector. It was evident in the 90’s. During that time, this team had come up with liberalization policy and had made efforts to lead the economy towards prosperity. There were many bottlenecks and as such, this policy failed. So, if the parties in the higher position can now give continuity to the same policies and can implement them with effective monitoring, private sector will flourish leading to development of various parts of the economy.</div>
<div>
</div>
<div>
Similarly, we can also expect good things from the upcoming government. But, for this, a single party or a combination of some parties cannot do anything. For the prosperity and economic growth of this nation, all political parties should work hand in hand.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Do you think our private sector is sincere enough in delivering services to the consumers? What are the reasons they are lacking behind in this?</strong></span></div>
<div>
State has to play leading role when it comes to the growth of the private sector. It is the state’s responsibility to provide the private sector with essential facilities while also monitoring their activities regarding implementation of the facilities provided by the state. Private sector is always profit-oriented. Its activities depend on the government’s attitude towards it. The government should ensure reasonable profit for the private sector while providing security for the investment made by the private sector and guaranteeing subsidies in delivery of necessary goods for the consumers. It should be able to create market for the private sector and should implement a clean and clear monitoring system. It is because of lack of such monitoring system that private sector has been lagging behind. Private sector can be effective if government provides enough security and an effective monitoring system.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>What is it that is lacking in our monitoring system?</strong></span></div>
<div>
For now, the government is weak. The government is vulnerable because of some reasons: Firstly, we do not have constitution and the Maoists who had originally demanded for CA elections are in third position while parties, who had never had this as their primary agenda, are now in leading position. In the past four years, nothing fruitful could be obtained. Rather, highlighting of issues surrounding federalism distributed solidarity among the people. Secondly, we do not have stability in our political and economic sphere. Presently these spheres are rigid and this has rendered our concerns and voices valueless. Economic activities are directly proportional to political stability and thus economic prosperity is possible via political stability. At this moment, the whole economic sector depends on the momentum of the political sector, which is presently in an unpredictable situation.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>There is a wide spread criticism regarding the insincerity of some private sector actors in providing facilities to consumers. What is your opinion on this?</strong></span></div>
<div>
Private sector is not trying to run away from its responsibility. I have listened to talk shows and programmes organized by FNCCI and CNI. They have often invited political leaders to their programmes and asked them to bring political consensus and consider economic growth as their main agenda. Private sector has substantial capital at its disposal and wants to utilize it in development activities. As such, they have highlighted five major areas that can speed up national development: agriculture, hydropower, tourism, education and infrastructure. They have identified these sectors as potential sources for national prosperity and development. People have begun investing internationally because there is no scope for investment here. This situation has been created here due to lack of security, market, and subsidies among others. Private sector is not trying to escape; rather, the government is suppressing it as it is failing to create a suitable environment for the private sector to flourish. Basically, private sector is in shadow because of government’s failure to create a conducive environment for its growth.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>Even though our economy is relatively smaller it has always faced the problem of capital shortage. But, we are always able to invest in sophisticated products. Why is the economy failing to invest in more essential sector?</strong></span></div>
<div>
This is a very good question. A big portion of imports in Nepal constitutes of goods that cannot be substituted. Thus, a big amount of capital is being invested in the import of such goods. Import of goods like vehicles, gold and oil cannot be substituted by domestic production. We spend billions of rupees in importing these goods because these goods are important but cannot be produced in our country.</div>
<div>
</div>
<div>
Nonetheless, our economy has the potential to substitute import of certain goods like gas. Gas is one of the goods that have always led to conflict in the country, sometimes even leading to change of government. Nepal Oil Corporation is not always able to meet our needs and is also always on loss. We could substitute this, to some extent, through electricity. If we can produce sufficient electricity and provide it in convenient price, it will automatically solve the gas import problem. We could opt for electric bike, electric cars and electric trains if hydropower is properly utilized. So, it is necessary that we exploit hydropower to its fullest capacity</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>It is quite essential to have effective regulatory mechanisms to ensure smooth functioning of an economy. What improvements would you suggest in our economy’s regulatory mechanisms?</strong></span></div>
<div>
Monitoring system is a regulatory body. Our nation must not only have controlling mechanisms but should also include facilitating mechanism as its regulatory system. It means that private sector should be provided with subsidies, enough infrastructure, facility of tax exemption etc. Along with that, there should also be a separate regulatory mechanism that monitors the private sector’s activities.</div>
<div>
</div>
<div>
If one private sector actor does not work properly, the government should be able to dismantle it immediately and it should also provide space for the entry of new ones. However, existing lack of co-ordination within government agencies is making it difficult for the private sector to grow.</div>
<div>
</div>
<div>
<span style="font-size:14px;"><strong>In this changed scenario, as an economist, what would you suggest to the private sector, government and the consumers?</strong></span></div>
<div>
We are experiencing a major change and the future of our nation is unpredictable at this juncture. However, I am still optimistic. Regarding the CA elections’ results, I would sincerely like to thank the people of Terai for bringing a change in their voting pattern. I am glad that they did not stick to the earlier voting trend.</div>
<div>
</div>
<div>
Regarding the private sector, I would like to say that the private sector alone cannot grow unless it is supported and facilitated by the government. Both of them should make efforts for a better environment for mutual growth.</div>',
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