Monday, October 25, 2010

BP Koirala's economic thoughts still relevant

The revolutionary advances in technology and its growth could raise the living standard of the people of under-developed countries without lowering the standard of living of peoples of the advanced countries, the then Prime Minister and the president of Nepal Congress BP Koirala said, while addressing the 15th session of the UN General Assembly.
Launching the book on 'BP's Economic Thought' here today, speakers remembered him as a visionary socialist thinker, who was aware of rising rich-poor gap that could be the source of much friction and tensions.
"His visions are still relevant," said newly elected NC president Sushil Koirala after launching the book. "BP was the world renowned socialist thinker," he said adding that democracy is indespensible for the development.
"BP has always been seen as a politician only but he also had economic vision on how to develop Nepal into a prosperous and just country," said economist Dr Chiranjibi Nepal, the author of the book. "BP's economic thoughts will prove to be a mile stone for today's youth to lead a better nation," he added.
Blaming BP’s own party for misinterpreting Democratic Socialism that BP believed on, Prof Dr Bishwhambher Pyakurel said that BP’s discipals have misled the country.
“BP believed in individual's ability to grow, and entrepreneurship that's why he is democratic," said former finance minister Dr Ramsharan Mahat. "And his belief that there should be equality in the society made him a socialist," he said, adding that capitalism is the first stage towards socialism. "For equality, BP imphasised on increase of production."
Government alone cannot help increase production, thus BP believed on private sector's role in increasing the production, according to Mahat. "BP believed in capitalism with a human face."
“BP believed that Nepal lives in village and only village can become the centre of the economic transformation.”
Defending his liberal policy during NC's rule over one-and-a-half decade, Mahat claimed that he has always followed BP's economic vision. “Following BP's vision, NC has always emphasised on resource allocation to village where majority of Nepalis live."
"The indiscipline, lack of law and order situation and corruption were the major hurdles in fulfiling BP's economic dreams," he claimed

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