Charting a path toward progress and prosperity

Although there are numerous reasons to take pride in Nepal, Nepali people are currently experiencing more suffering than happiness. Nepal boasts an abundance of natural beauty, with thousands of breathtaking places to explore. However, due to our inadequate knowledge in marketing and promoting our tourist attractions, we are losing out on millions of potential tourists each year. Furthermore, despite being the second-largest country globally in terms of water resources, we have neglected our hydropower potential for several decades. Similarly, Nepal is a treasure trove of cultural heritage, yet we have been unable to harness even 10 percent of its value. Despite being an agricultural nation, Nepal has failed to capitalize on its farm potentials. Many farmers struggle to feed themselves throughout the year. In contrast, countries like Israel have managed to feed most of their population with just two percent of their population engaged in farming. If utilized property, Nepal’s fertile land in the Tarai region can also feed the country. There are numerous areas where Nepal can excel if there is a right focus and commitment. Unfortunately, our leaders seem more focused on trivial matters rather than unlocking our nation’s true potential. Nepal possesses immense potential and capability, which could position it as a leading country in Asia. However, political parties, their workers, and supporters seem to prioritize their own self-interests over the development and prosperity of the nation. This self-centered approach has contributed to Nepal’s current status as one of the poorest countries in Asia and even globally. However, if the representatives across the 761 governments in all three levels demonstrate the will to prioritize the country’s progress, Nepal could unlock the door to prosperity within a decade.

In order to drive progress, Nepal must devise a new agenda for development, which will serve as the fundamental framework for growth. It is imperative for our political leaders to take the lead in crafting an agenda that prioritizes the nation’s development and prosperity. This agenda should be free from personal interests and controversies. Setting clear deadlines for each task is crucial to ensure its timely completion and effective implementation.  Moreover, it is important to anticipate and address potential challenges that may arise during project implementation. All parties involved should actively facilitate solutions and work collaboratively to overcome obstacles.

After formulating the development strategy at the local, provincial, and federal levels, it becomes crucial to create an environment that encourages investment. Nepal, like many developed countries in Asia, should strive to establish a favorable climate for foreign investment and attract a skilled workforce to contribute to economic growth. To achieve this, it is essential to study and research the development patterns, investment strategies, project selection criteria, implementation methodologies, and utilization of opportunities post-completion adopted by various countries across Asia, Europe, Canada, America, Australia, and other successful nations. The country needs to embark on the path of development and prosperity that aligns with Nepal’s geography and culture. Concurrently, it is crucial to create an environment that provides opportunities for the unemployed youth to work within their own country. Despite a challenging political landscape and bureaucracy, which can disrupt the situation in Nepal, there are still millions of individuals who wholeheartedly love Nepal. They aspire to witness a strong and prosperous Nepal. We need to harness the potential of this group to create a conducive environment within the country. To achieve the outlined goals, the first step is to strengthen Nepal’s economy and prioritize the national objective of poverty alleviation. Our financial situation has not gone beyond our control as many are saying. By gradually increasing revenue collection, the government can boost spending in the development sector accordingly. Corruption should have no place in Nepal, and the accumulation of unsettled accounts must be addressed. Policies should be formulated in a way that it discourages the practice of cutting development expenses in favor of unnecessary expenditures. Special attention should be given to public expenditure management, ensuring that it is planned and implemented with a focus on medium and long term. Our think tanks should analyze successful models of fiscal federalism adopted by countries that have prospered through federalism. Foreign trade is indeed a crucial area that can significantly contribute to the development of Nepal’s economy. By focusing on various products, ranging from food products to medicinal herbs, Nepal can utilize foreign trade as a powerful tool for economic growth. Mobilizing the youth in the agricultural sector can reduce reliance on foreign goods. If all 753 levels of government in Nepal devise special plans and initiatives in these and similar areas, domestic income can double in a short period of time. This would provide relief to people from the heavy tax burden imposed on them. It is unfortunate that many local units have not explored revenue sources beyond excessive taxation even though they have already completed the first year of their second five-year term. The lack of progress in exploiting these potentials is not due to a dearth of potential itself. Rather, this is due to the lack of action and initiative. The federal government should proceed with caution and strategic planning to align Nepal's economy with the high economic growth witnessed in China and India. In our development initiatives, it is essential to prioritize the Gross Domestic Product (GDP) as a central focal point. Nepal possesses a diverse foundation for economic development, with key sectors such as agriculture, industry and trade, tourism, electricity and energy, and remittances playing significant roles. Additionally, regions like the Pashupat, Lumbini region, Janakpur region, Pokhara region, Kathmandu valley region, Dhangadhi region, Nepalgunj, Biratnagar region, and Birgunj contribute to this foundation. In order to achieve development and prosperity, it is vital to effectively manage both natural and other resources, involve citizens at all levels, and adhere to principles of good governance. Let’s set 100 ambitious goals with specific timeframes. This will lay a solid foundation for Nepal’s development and prosperity. The author is the President of Forum of Development Journalists-FODEJ Nepal