Sunday, August 2, 2015

Constitution sans economic freedom will ignite conflict

Economists and entrepreneurs have said that constitution sans economic freedom will fuel social unrest in the country.
Asking lawmakers to replace 'socialism' in the draft constitution to avoid another conflict, they claimed that the country will see another revolution - due to increased rich-poor gap - if the economic issues in draft constitution are approved as it is.
The constitution must ensure economic freedom to every citizen, if the country aspires to become prosperous, according to president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Pashupati Muraraka.
"Instead of socialism-oriented economy, the constitution must clearly spell liberal market economy," he said, adding that the draft has to replace 'socialism' with 'liberal economy' that can ensure greater economic freedom by creating opportunity and an improved quality of life. He further added that economic freedom will ensure right to choose how to produce, sell, and use your own resources respecting others' rights to do the same. "Only the economic freedom can drive the nation to prosperity."
Without engaging a person in production, a country cannot transform economically. For a person to engage in economic activities freely, the constitution must ensure economic freedom. The countries that are economically developed have adopted economic freedom ensuring the involvement of their citizens in production and sale. That has not only increased their income, but also improved their living standard and overall human development.
However, the draft has, by spelling socialism, back-tracked the liberal economic orientation that the country has been practicing post-1990, Muraraka suspected. As the draft constitution has repeatedly highlighted cooperatives instead of encouraging private sector, his doubt could be genuine. The private sector is indeed suspicious on what the political parties are by giving up the time-tested liberal economic policy.
The draft has created confusion by stating 'socialism-oriented economy' and private sector too, according to economist KeshabAcharya. Saying that the draft has mixed both private sector and socialism, creating more confusion, he said that the political parties might have made 'socialism' a meeting point as they follow different ideology. "It might have made their task easy, but country will have to pay for their convenience."
He suggested replacing 'socialism' with 'welfare state with economic freedom' that cannot only save from wasting many pages in the constitution but also clarifies where the nation is heading toward.
Nepal Chambers of Commerce (NCC) President Rajesh Kazi Shrestha also opined that the draft has undermined private sector as it gives priority to cooperatives and socialism.
Likewise, Confederation of Nepalese Industries (CNI) president Narendra Basnyat said that only the private sector-friendly constitution can institutionalise political achievements and economic development.
National Planning Commission (NPC) member Dr Chandra Mani Adhikari seconded his thought. "Leaders from different political ideologies have compromised on socialism without defining it," he said, adding, "Since there is problem in both liberal market economy and socialism, the word 'socialism' should be replaced with 'progressive capitalism." Otherwise, it will create more confusion, he added.

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