Prime Minister ianugurates Guerrilla Trail

Prime Minister Pushpa Kamal Dahal today inaugurated a ‘Guerrilla Trail’ and an ‘Insurgency Museum’ at Chunwang of Rukum district.
Lies in the mid-western part of Nepal, in a hilly region of Rukum-Rolpa, the trail was used by the Maoists during the insurgency. One can trek through several unspoiled villages, innocents people, their unique cultures, awesome Himalayan ranges of Sisne, Putha , Dhaulagiri, Chauri peaks,
Guerrilla trekking trail of Rukum-Rolpa area is a virgin land, restricted, impossible and extremely difficult for outside world over a decade during long people’s war in Nepal. The land is known as most playground for revolutionary people, their perfect hideout and running their own government. The small yet naturally beautiful place is now open and heartily welcoming people from outside. The place is blessed with rich flora and fauna, unmatchable natural beauty, rich cultural heritage and adventurous trails once used by Guerillas during people’s war in Nepal are the main attraction in Rukum.
Recalling the times of the insurgency, the premier underlined the importance of the area during their protest 12 years ago. He also expressed his happiness to be able to establish a memento of the time.
Speaking at the inauguration programme, Dahal stressed the need of smooth implementation of Constitution for the overall development of the country. He informed that his government was working to develop Nepal as an economically prosperous country.
"And for this," the PM assured that the local, provincial and federal elections should be held on time.
He also stressed that there is no other alternative than consensus among the political parties for the implementation of Constitution. The recent Constitution amendment bill that was registered in the House will ensure rights of Madhesis, Muslims, Tharus and other marginalised group, the premier said.
Urging the parties to stop staging protests for the sake of protests, he claimed that the Bill was registered ‘in accordance to CPN-UML’s proposal before Constitution promulgation’.
He also called for discussion in order to forge political consensus.

Please-all Policy and Programme lacks teeth

The government today unveiled a 'please all' Policy and Programme for the next fiscal year.
President Bidhya Devi Bhandari presented the government's Policy and Programme at the Parliament – the first since the promulgation of the new Constitution – with 'something for everyone' but it is said to lack the willpower and also structural and institutional capacity for implementation.
Economists and the business fraternity have expressed doubts about the implementation of the 'ambitious' Policy and Programmes, also in view of the short lifespan of the incumbent government coupled with eroding governance capacity, among other things.
The government's policy is populist, according to senior economist Prof Dr Madan Kumar Dahal. He opined that the government should have focused on the next one fiscal year instead of the next decade, which is somewhat populist and impractical. "The policy also lacks specific strategy for accelerating capital budget spending that could fuel economic growth, if indeed the government wants to spur economic growth," he added.
Likewise, another senior economist Prof Dr Bishwhambher Pyakuryal, said the 'ambitious policy' has failed to strike a balance between the incentives it has announced and the present bureaucratic and structural deficiencies. "The policy has something for everyone but no teeth to bite," he added. "It also fails to give continuity to the policies of earlier governments, which could lead to a policy void."
The earlier government had started second generation reform programme and was preparing to amend and bring new laws that could help create investment climate in Nepal. But the Policy and Programme presented by the incumbent government is silent on the second generation reform programme that was supposed to attract more domestic and foreign investment to kick start stalled industralisation and employment generation in the country.
"Though the policy has everything in its contents, the government lacks the basic infrastructure to meet the ambitious targets," said former member of the National Planning Commission (NPC) Dr Chandramani Adhikari. This 'ambitious policy' at a time of political transition could bring more frustration to the people, he said, adding that the government might have come up with a long policy document that includes something for everyone so as to win the confidence of the people as it has failed to deliver so far. "However, due to eroding bureaucratic capability and low political willpower, people will lose confidence in the government."
"There could be therefore more trust deficit between the government and the people," he added.
Adhikari also opined that there is policy ambiguity. The planning commission is coming out with a three-year plan, other institutions have their own periodic plans, and the Policy and Programme speaks of achieving everything in the next five years. "It is going to add more challenge to the government," he said, adding that "going by the historical trend, the implementation part is the most challenging aspect for all successive governments, though they all had something or the other for the people."
Likewise, another challenge is how the budget will help allocate resources on a structural and institutional basis to meet those targets," according to Adhikari. The Policy and Programme has to be supported with resources through the budget to meet the targets. The success or failure of the Policy and Programme will also be gauged by the budget that will either announce qualitative or quantitative projects to support it, he said.
The government is going to announce budget for the next fiscal year on May 28 to support the Policy and Programme presented today at the parliament.
Economist Dr Dilli Raj Khanal seconded Adhikari's views. "The current structural and systemic problems, including bad governance, is a key challenge in implementing the ambitious Policy and Programme," he said, hoping that the budget would bring some clarity how the Policy and Programme is going to be implemented.
Implementation is key as usual, according to president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Pashupati Murarka. 'Though the language is pleasing to the business community, the implementation part is doubtful as usual," he said, adding that the private sector's involvement in infrastructure projects, industrial zones and fines for calling bandhs and strikes is, however, encouraging.
The Policy and Programme has many populist slogans like loans against educational certificates or citizenships, which could mean gross misuse of people's deposits in banks and financial institutions.
Likewise, the Policy and Programme is in itself a 'confusing' document. The Policy claims that the new Constitution will be implemented and it also claims that the local elections will be held in January. The election of local bodies according to the old Constitution is the waste of time and resources, if the government is committed to federalism. The Policy raises serious concern on whether the government is implementing federalism according to new Constitution or back tracking the political course.
Though the Policy paper says that a new era of national independence and dignity, democracy, durable peace, good governance, development and prosperity has begun, the letter and spirit of the document have failed to provide any concrete basis for people to live the change as it has announced the election of the local bodies, according to the old structure.
The government has also reiterated its commitment to the reconstruction of damaged private houses and archeological heritage, to providing energy for all and employment to all, competitive and sustainable industrial development, and to a socialism-oriented economy.
The country has now moved in the direction of prosperity by means of equitable and sustainable economic growth, the Policy reads, but lacks any evidence of that or any programmes to achieve economic growth, except some earful populist slogans.
The Policy has also mentioned that reconstruction work has now been intensified although it took some time to prepare the necessary institutional and legal foundation due to the unfavorable situation created in the country.
The government is going to provide soft loans of Rs. 300,000 without collateral to owners of private houses, under their collective guarantee, it reads, adding that it is in addition to the grants of Rs 200,000 and soft loans of Rs 1.5 million in rural areas and Rs. 2.5 million in Kathmandu Valley, which was announced almost a year ago but not implemented yet.
The Policy also claims that it is going to bring about a self reliance-oriented, multi-interdependent economic system – realising the challenges that excessive dependence on one foreign country in trade, investment and supplies may generate – but in practice the people are still suffering due to the shortage of essential products since last half year.
Similarly, the Policy has greater focus on the agriculture sector and claims that the government will increase investment in agriculture so that the country will basically become self-reliant within two years in major food items and attain food security. However, going by the trends, the country has become more dependent on agricultural imports in recent years, despite successive government promises.
Likewise, the Policy document – that has no sense of accountability – has promised to supply electricity at a basic level within a year and to meet the actual demand within two years through implementation of the National Energy Crisis Reduction and Electricity Development Decade Action Plan- 2072, which is meant to produce an estimated 10,000-MW in a decade. In reality, the country is still reeling under 12 hours of load shedding that has handicapped economic activities and industries have been running in the 50 per cent capacity hitting employment generation, and pushing Nepal to import economy instead of self-reliant economy as claimed by the Policy and Programme. The best part is that mega hydropower projects that could help reduce load shedding hours are not anywhere near to completion within one year, as claimed by the Policy.
Last but not the least, the Policy document reads as if the incumbent coalition government is staying in power for decades, which is going to be purely a election propaganda as the government is going to be changed – according to the 9-point deal between the key stakeholders of the government CPN-UML and UCPN-Maoist – in a month.

Prime Minister's Office directs NOC to reduce fuel price

The government has directed Nepal Oil Corporation (NOC) to reduce fuel prices instantly in line with the decline in crude oil price in the international market. Similarly, the Department of Transport Management (DoTM) – through Ministry of Physical Infrastructure and Transport – has also been directed to reduce public transportation fares. Stating that Nepali consumers have not been benefitting from the significant declines in international oil price, the Office of the Prime Minister and Council of Ministers (OPMCM) today wrote separately to the NOC and DoTM to slash fuel prices and revise public transport fares accordingly. The OPMCM spokesman Uttam Kumar Khatri confirmed that the office has written both the entities letters to slash the prices accordingly.
The office has, however, not clarified what action it would take, if the state entities not follow its directives. Earlier too, the office used to issue directives but the state entities are not responsible to either state or people.
Despite continuous drop in crude oil prices in the international market, the Nepal Oil Corporation (NOC) has not adjusted fuel prices downwards citing shortage of the petroleum products.
Though the crude oil price plunged to a 12-year low of $32 per barrel in the international market in January second week, Nepali consumers have not been able to benefit from it as the responsible bodies did not slash the fuel prices and transport fares, accordingly.
"While NOC has not reduced fuel price according to the declining crude oil price in the international market, the DoTM also has not reduced public transport fares,” said Khatri.
Earlier on January 18, NOC had reduced the prices of petrol and diesel by Rs 5 per liter and Rs 6 per liter, respectively, despite the automatic pricing system it adopted since almost a year ago. Currently, petrol costs Rs 99 and diesel and kerosene cost Rs 75 per liter, respectively.
Meanwhile, student unions affiliated to various political parties today organised a sit-in protest in front of NOC demanding smooth supply of petroleum products and action against the black-marketeers of petroleum products. Student unions affiliated with three Maoist parties – UCPN-Maoist, CPN-Maoist (Revolutionary) and CPN-Maoist – had staged sit-in protest in front of NOC's central office at Babarmahal in the afternoon. The NOC has been encouraging illegal import of petroleum products after Indian blockade – since September – that halted supply of fuel from the Indian Oil Corporation (IOC). The IOC that is the only supplier of fuel to NOC refused to supply essential fuel – despite the agreement between NOC and IOC to supply uninterrupted fuel – saying that it has no orders from Indian government to supply oil.
Likewise, the student unions have also demanded NOC to adjust fuel price in line with the decline in international crude price. They have also demanded that the NOC adopt long-term policies regarding production, supply and storage of petroleum products and end the ongoing crisis immediately.
Crude prices have been plummeting in the international market continuously since last four months but the state oil monopoly has not been revising the prices downwards, instead it has separted a huge chunk from its profits for bonus. The technically bankrupt NOC srill has to pay Rs 12 billion loan to the government. Earlier, it had Rs 32 billion loan last fiscal year.

Nepal 15th most corrupt country in the world

Nepal is 15th most corrupt country in the world, according to Transparency International (TI).
According to the Corruption Perceptions Index (CPI) 2015 published by TI today, Nepal is the 15th most corrupt country globally on the basis of score, and 38th on the basis of ranking, it said, adding that Nepal is also third most corrupt in South Asia, after Afghanistan and Bangladesh.
Nepal with a score of 27 – out of 100 – ranks in 130th position among the 168 countries.
Nepal’s image as one the most corrupt countries in the world has taken a further beating as the country has slipped by four positions from last year, states the report titled 'Corruption still rife but 2015 saw pockets of hope'. Last year Nepal was placed 126th with a score of 29. Bhutan – the least corrupt country in the region – ranks 27 with a score of 65.
According to the report, overall weak governance and politics has dragged Nepal down.
Bhutan – the least corrupt country in the region – ranks 27 with a score of 65. In South Asia, India (76th position with a score of 38) ranks second – after Bhutan, Sri Lanka third Sri Lanka (83rd position with a score of 37) and Pakistan (117th position with a score of 30) ranks fourth, followed by Nepal, Bangladesh (139th position with a score of 25) and Afghanistan (166th position with a score of 11), states the report that has not listed Maldives in the index.
Nepal’s slip in ranking in the CPI has been attributed largely to public servants’ abuse of authority for personal gains and weak control over public servants.
“The survey shows action taken against public servants involved in abusing authority was weak,” said TI-Nepal’s president Bharat Bahadur Thapa, while releasing the CPI report in Kathmandu. “It indicates strong inclination among civil servants towards abusing authority for personal gains."
The performance of all the 3 state organs – judiciary, bureaucracy and legislature – has been reflected poorly in the TI survey. "It demonstrates government’s total indifference towards fighting corruption," Thapa said, adding that the rare commitments made by the government to adopt zero tolerance on corruption proved nothing but lip service.
Grand corruption is the abuse of high-level power that benefits the few at the expense of the many, and causes serious and widespread harm to individuals and society, the TI report reads, adding that it often goes unpunished. "Nepal continues to perform poorly and has been one of the most corrupt countries."
Conflict and war, poor governance, weak public institutions like the police and the judiciary, and a lack of independence in the media characterise the lowest ranked countries like Nepal.
Similarly, top performers share some key characteristics like high levels of press freedom; access to budget information so the public knows where the money comes from and how it is spent, high levels of integrity among people in power and judiciaries that don't differentiate between rich and poor and are truly independent from other parts of government," the report states.
The annual survey by the Berlin-based watchdog said the Corruption Perceptions Index (CPI)  measures the extent of corruption within a country, on a scale ranging from zero to 100. Countries securing higher scores are rated as the least corrupt and the low scorers are perceived to be the most corrupt. Countries with a score below 50 are perceived as highly corrupt and those that secure 100 are the cleanest, according to TI. Among the lowest 38 countries most of the countries scores are equal making Nepal 15th most corrupt country in the world. Cameroon, Iran, Nicaragua, Paraguay and Ukraine also have scored equal to Nepal, and are 15th most corrupt countries on the basis of score.
Controlling corruption in Nepal remained a herculean task, with the anti-graft body officials themselves have been caught in bribery scandals and commissioners found taking dual state facilities. On top of that, there have been widespread allegations that the anti-graft body has been protecting the corrupt state oil monopoly as the Nepal Oil Corporation is involved in institutional corruption largely supported by the CPN-UML president and Prime Minister K P Oli, UCPN-Maoist supremo Puspa Kamal Dahal 'Prachanda', and the anti-graft agency's chief.
Experts see this grim situation, despite having 16 anti-corruption agencies including Commission for the Investigation of Abuse of Authority (CIAA), as a systematic breakdown of rule of law. Nepal has broken the record of 2011, when it was ranked 154th among 182 surveyed countries, with a score of 2.2 on a scale of 0 to 10. Nepal last year was ranked 126th, out of 175 countries surveyed, with a score of 29.
A country's score can be helped by open government where the public can hold leaders to account, while a poor score is a sign of prevalent bribery, lack of punishment for corruption, and public institutions that don't respond to citizens' needs. The Corruption Perceptions Index (CPI) is based on expert opinions concerning public sector corruption.
Nepal has failed to improve either its country-wise ranking or its score in the index which shows Denmark to be the least corrupt country with a score of 91. Denmark (score 91), Finland (score 90), Sweden (score 89), New Zealand (score 88) and the Netherlands (score 87) are the five best performers, respectively, whereas Somalia, North Korea, Afghanistan, Sudan and South Sudan are the worst performers.
Afghanistan ranks as the third most corrupt country globally after North Korea and Somalia,  and as the most corrupt country in South Asia, the report further shows.
The big decliners in the past four years include Libya, Australia, Brazil, Spain and Turkey. The big improvers include Greece, Senegal and the UK.
Corruption can be beaten, if we work together, the TI report has said, adding, "To stamp out the abuse of power and bribery and shed light on secret deals, citizens must together tell their governments they have had enough."
"The 2015 Corruption Perceptions Index clearly shows that corruption remains a blight around the world," said chair of TI José Ugaz. "But 2015 was also a year when people again took to the streets to protest corruption," he said, adding that people across the globe sent a strong signal to those in power: it is time to tackle grand corruption.

One hour of bandh bleeds economy Rs 150 million

The economy bleeds Rs 150 million directly due to per hour of strike, according to a study.
The three-day bandh called by the UCPN-Maoist led 30-party alliance will bleed economy Rs 5.40 billion in three days, according to the study conducted by the central bank on 'the economic impact of general strikes', which revealed that one day of a nationwide strike causes a loss of about Rs 1.80 billion directly, most of which is borne by the service and industry sectors.
However, the entrepreneurs estimated the losses to be at Rs 3 billion per day at the current rates as the bandh has domino impact on economy. The private sector claims that the economy will bleed Rs 250 million per hour as of today.
The alliance has called three day strike from Wednesday to Friday to pressurise the government. Requesting the 30-party alliance led by the UCPN-Maoist to withdraw the three-day strike, the private sector has called for more creative form of protest except disturbing the business and economic activities.
The bandh – called to pressurise the government – will not only bleed the economy blue, but also curtails the fundamental constitutional rights of a common man. The constitution has ensured a free movement of a person apart from freedom of choice of profession and economic freedom.
Likewise, political stability in recent years has helped create investment-friendly environment in the country. So, the private sector has asked the parties not to disturb the investment-friendly environment.
Federation of Nepalese Chmbers of Commerce and Industry (FNCCI), Confederation of Nepalese Industry (CNI) and Nepal Chambers of Commerce (NCC) have urged the political parties not to disturb the investment-friendly environment.
They have also urged the parties to expedite the process of promulgation of the constitution and end the political instability, and shun any strikes that will again pull the economic growth down.
The central bank study – based on data and strike incidents in period from 2008 to 2013 – also revealed that such recurring bandas has a total output loss of Rs 27 billion on average per year. "It has brought down some 1.4 per cent of GDP growth per year from 2008 to 2013," the central bank study stated.
The private sector fears that strikes and protests would once again dampen investors’ confidence. "Investors will run away if they face a sense of insecurity and uncertainty," FNCCI vice president Pashupati Muraraka said, adding that the strikes could not by any means address any problem.
Likewise, Hotel Association Nepal (HAN) has also urged to withdraw bandh, saying its impact on the tourism industry would be huge, long-lating and directly or indirectly hit livelihood of over 4.5 million people. Strike induced uncertainty will hit the tourist arrivals, it added. "As such strikes would have adverse impacts in the economy by discouraging investors and worsening the business environment in the country.

Can economist Mahat resurrect economy?

When he entered Finance Ministry today afternoon as finance minister for the fifth time, everyone is expecting that Dr Ram Sharan Mahat has a magic wand that can work magic.

But the situation that he has been appointed as the finance minister this time is different in every way that he was in the ministry earlier.

The ballooning trade deficit – that stands at Rs 288.76 billion as of six months of the current fiscal year – rising inflation – that stands at around double digit – energy deficit – the country is reeling under 12 hours of scheduled power cut – and low development expenses have made the economy costilier and lives of the people more difficult, and fuelled unemployment.

As of the seven months of the current fiscal year, the government has been able to spend only 18 per cent of the capital budget with a swelling treasury of Rs 65 billion, and another Rs 50 billion excess liquidity in the banking sector due to low appetite of the private sector that has lost faith on political parties and successive governments.

Six years ago, when he was the finance minister for the fourth time, the situation was different, the CPN-Maoist – currently UCPN-Maoist – had just joined the mainstream politics shunning violence. He was free to work in his style. But now he has to balance the aspirations of coalition partners.

Mahat may find it easy to work with coalition as they also have vowed to give priority to economy in their election manifesto, says senior economist Prof Dr Bishwhambher Pyakuryal, who was once Mahat's classmate.

Though all the political parties – especially the partner CPN-UML – have voiced seriousness in the economic agenda and shown willingness to work for prosperous future, it still has to be tested.

Apartfrom the coalition partners, Mahat might also find difficult to balance between his party's ideological legacy as democratic socialism and his own liberal economic views for which he has still been blamed for selling state utilities for penny.

Post-1990 movement, when Mahat was assigned as the vice chair of National Planning Commission (NPC), he started economic reforms and brought the liberal economic policies opening the health, education, sky, and a lot of sectors for private sector. Over the years the private sector has become an engine for economic growth, though it has also deviated here and there, which has made Mahat's task more difficult. On one hand he needs to correct the private sector and encourage it to play according to liberal economic market policy rules and on the other, start second tire economic reforms.

However, Pyakuryal thinks, Mahat is capable to turn the tide not only as a disciple of Keynesian school of thought but also as an experienced economist-cum-finance minister. "Mahat was a great lover of books and used to study a lot," Pyakuryal says, remembering their college days. "The economy currently needs a shot in arms as it has structural problems," he adds. "It is necessary to find out structural problems of priority sectors like hydropower, agriculture and tourism, and address them."

Mahat as an experienced economist himself, knows the cure for the aliment, Pyakuryal opines.

The private sector is, however, happy to get him back in the Finance Ministry due to his pro-market image, and experience hoping that the economist will be able complete the economic reforms that has been left incomplete since he left the office in 2008, when the economy grew at 5.6 per cent, the highest in last seven years.

Not only the private sector, the bilateral and multilateral development partners of the country also trust him as a man of integrity and believer of probity and transparency in public life.

Mahat had twice voluntarily resigned as finance minister. When the opposition raised question about his foreign exchange accounts in a New York Bank in 1997, he resigned voluntarily to facilitate judicial investigation. He was acquitted and subsequently reinstated. Likewise, the second time he resigned in 2002 protesting the then Prime Minister Sher Bahadur Deuba's unexpected mid-night dissolution of the parliament without consulting his cabinet fellows including himself.

But can Mahat work his charm to bring the economy back on track or not is still a billion dollar question as in the past too, he has been forced to backtrack his policy on subsidy despite being strongly against the subsidy on petrol that is mostly consumed by the urban populace.

Challenges that stare at Mahat's face:

1.     Expediting government spending.

2.     Containing inflation under eight per cent.

3.     Better utilising excess liquidity in the banking sector by building confidence of the private sector.

4.     Start second tier economic reforms
5. Some 22 proposed Acts – including Special Economic Zone (SEZ) Act, Labour Act, new Insurance Act, Banking Act – are in Parliament for approval that could he cleared sooner to encourage private sector and create investment-friendly climate.

Parliament approves Anti Money Laundering Bill despite UCPN-Maoists opposition

Despite opposition from the UCPN-Maoist, the parliament today approved the long due Anti-Money Laundering Ordinance.

The hardline communist party has been blamed of amessing huge wealth through illegal means, has been opposing the ordinance before too. A UCPN-Maoist lawmaker Ram Narayan Bidari filed a complaint – on behalf of his party – claiming that the Ordinance intends to target his party. However, the Ordinance, earlier in the parliament, was tabled by the the Prime Minister Dr Baburam Bhattarai as it was necessary to approve the Bill to fulfill the country's international commitment against the free flow of dirty money.

The Mohan Baidya-led breakaway faction of UCPN-Maoist fear that the Act might to used against them.

The international community, especially the Financial Action Task Force (FATF) – a global anti-money laundering body whose threats forced the government to act – has been keeping hawk's eye vigil on Nepal as it has failed to approve the anti-money laundering acts to combat flow of dirty money.

President Dr Ram Baran Yadav had recently approved two ordinances, Second Amendment to the Anti-Money Laundering Act (2008) and Proceed of Crimes Ordinances to save the country from being blacklisted by the FATF.

Unsettled accounts related to ex-Maoist combatant cannot be settled: Secretary

Secretary at the Ministry of Peace and Reconstruction said that the arrears and unsettled accounts related to ex-Maoist combatant could not be cleared.

Speaking at a meeting of the Unsettled Accounts Clearance Committee meeting here today, the secretary Dhan Bahadur Tamang said that the unsettled accounts of the ex-Maoist combatant and resettlement would be difficult to settle.

The government had allocated a total of Rs 20 billion for the resettlement and rehabilitation of ex-UCPN Maoist combatant but the part itself has been involved in the financial indiscipline, according to the ex-Maoist combatant. The case has also been filed at the anti-graft watch dog, but it has not moved forward.

Finance secretary, who is also the coordinator of the committee, asked the secretaries not to increase any more unsettled accounts, and settle the old ones. The Office of the Auditor General has been asking the government to hold the respective ministers and secretaries responsible for the increasing unsettled accounts.

"Though the commitment to settle the accounts is a welcome step, it has to be settled through practical ways," he said adding that the committee has directed all the ministries to at least reduce unsettled accounts to half, if not settle completely.

"Though the unsettled accounts of the current fiscal year dropped to 13.5 per cent, the accumulated unsettled accounts have to be settled soon," said energy minister and a member of settlement committee Umakanta Jha, on the occasion.

Likewise, another committee member and agriculture minister Tek Bahadur Gharti urged to continue the momentum of the current pace of settlement.

The secretaries, on the occasion, sought help of the committee to settle the unsettled accounts as some of the accounts could not be settled by a single ministry. "The departments under the ministries are responsible to increase unsettled accounts," they said, briefing progress of their respective ministries.

Though, unsettled accounts always may not mean financial indiscipline, the settlement of accounts is important according to law and also to be accountable to the general people, who are the paid tax from their hard earned money.

According to the latest report, the government has settled almost half to Rs 20.93 billion, out of the total Rs 45.19 billion unsettled accounts. The settlement is some 46.33 per cent.

The government had formed a three-member committee to solve the problems of unsettled accounts led by finance minister. The secretary at the Office of Prime Minister Krishna Hari Baskota is the member secretary of the committee.

Baskota, on the occasion, advised to form a committee under every ministry to settle the unsettled accounts.

Prolonged political transition hit economic development

Prolonged political transition and experiments have forced Nepal miss economic growth agenda, according to finance minister.

Addressing an interaction on 'Future Economic Roadmap for Federal Nepal,' organised by Confederation of Nepalese Industries (CNI) here today, finance minister Shankar Prasad Koirala said that most of the governments wasted time managing the conflict and missed the chance to develop the country. "Except for a fraction of time – during 1992-1995 after democratic movement – the successive governments since 1940 have been more involved in managing conflict."

The incumbent government has managed the transitional economy and is waiting to handover a healthy economy back to the elected government soon, he added. "Political stability and economic growth is directly related to each other."

Claiming that without investment-friendly environment, only the promises and speeches could not help develop a country, he said that there is no option to agreement on minimum economic agenda on health, education, energy, infrastructure development among the political parties. "After the successful completion of second Constituent Assembly (CA) election, there has been a light at the end of tunnel that the investment-friendly environment is on cards. The elected new government will carry the baton and encourage more investment in the country," Koirala said, claiming that the incumbent government has done some remarkable job to completely end the problem of load-shedding in next three years.
However, former finance minister and Nepali Congress leader Dr Ram Sharan Mahat, on the occasion said that a strong government can change the course of economic development. "The weak government can neither ensure law and order nor fulfil its promises," he said, development is not possible without stopping lawlessness completely. "Skill and policy are more important for the development in the current world than natural resources."
Saying that the flawed thinking among the people that only government is the power, he said that everyone is searching for white-collar job and no one is ready to do blue-collar job. "The table-job has eroded the productivity of labours."
Every finance minister has allocated budget for social security but there is no proper accounts of where the budget has been spent," he added.

Likewise, another former finance minister Surendra Pandey, said that the focus on energy and infrastructure will help create enough employment in the country.
Though I belong to the schooling of revolutionary land reform and distribution of land to poor, I realised that one can distribute only one's property not others," he said, adding that the schooling of distribution was wrong. "The state must be strong enough to implement its policies."
The minimum economic agenda will find no opposers, said another former finance minister and UCPN-Maoist leader Barshaman Pun. "The successive governments failed to kick start economic development, even after political change," he said, adding that his party will support the government on the basis of its performance on economic development and good governance.
Confederation of Nepalese Industries (CNI) president emeritus Binod Chaudhary, on the occasion, blasted the political parties for delay in forming the government. "The political parties have failed to learn the lesion," he said, hailing the incumbent government for helping float the economy smoothly.