Nepal is facing serious problems, with politicians often fighting both on the streets and in the House of Representatives. This situation is causing a lot of frustration among the people. What’s even more troubling is that many of the promises politicians made during the election seem to have been forgotten. They had promised to work for the improvement of the poor and disadvantaged, to provide better governance, and to control the widespread corruption in the country. They also talked about creating jobs for the unemployed and building a prosperous future for everyone.
Forgetting these promises, political leaders appear more focused on their own fights and struggles for power rather than working on the issues that really matter to the people. This leaves the citizens feeling neglected and disappointed, as they see little change in their lives.
Critical issues surrounding economic development in Nepal remain largely sidelined by the political ambitions of its leaders. Instead of tackling the pressing challenges that the country faces, political parties focus on activities that primarily serve their own interests, elevating their short-term popularity. These pursuits, however, often come at the expense of long-term progress and stability. The result is an economy that remains stagnant, with little hope for meaningful advancements. In fact, Nepal’s economic trajectory is increasingly concerning, as it is not only stagnant but also showing signs of deterioration.
A significant indicator of this stagnation is the excess liquidity in the country’s banks. The banking sector holds a substantial amount of idle capital, which could be utilized to drive growth and development. Instead of channeling this surplus into projects that could boost local industries, create jobs or improve infrastructure, banks continue to sit on their excess reserves. Political leaders who should be guiding the economy toward prosperity fail to intervene or prioritize this issue. Rather than focusing on using these resources effectively to stimulate the economy, their attention remains on consolidating state power and enriching themselves and their allies. This self-serving approach undermines the potential for long-term economic improvement and leads to further inefficiency in financial systems.
This cycle of mismanagement has persisted for decades, as political parties swap power but offer little in terms of vision or action to address the nation’s economic challenges. There is a glaring lack of leadership when it comes to creating comprehensive and sustainable economic policies that could foster growth and reduce inequality. The political establishment is not concerned with building a robust economic foundation; rather, it is preoccupied with gaining and retaining power, a pursuit that fails to benefit the nation at large.
As a result, Nepal has witnessed a prolonged period of stagnation, with the country’s economic growth hovering around a meager four percent annually over the past three decades. This rate of growth is insufficient to meet the needs of a growing population, and it has left many people—especially the youth—facing limited prospects. The consequences of such stagnation are profound. Employment opportunities remain scarce, particularly for the younger generation, which has significantly contributed to a migration trend. Young people, regardless of whether they are skilled, semi-skilled or unskilled, are increasingly compelled to seek better job prospects abroad. This exodus has become a key issue, as the country’s brightest talents leave in search of opportunities that Nepal fails to provide.
The outflow of skilled labor is particularly damaging, as it depletes the nation of its human capital—one of the most important resources for driving economic growth. This not only exacerbates the immediate problem of unemployment but also hinders the country’s long-term development. Skilled workers who might have contributed to the local economy through innovation, entrepreneurship or professional expertise are instead investing their talents in foreign markets. This brain drain leaves Nepal with a weakened workforce and a limited ability to compete in the global economy.
At the heart of this crisis lies a fundamental failure of leadership. The absence of a coherent and forward-thinking economic strategy has created a vicious cycle where the political class remains disconnected from the needs of the people. Rather than working to create a sustainable economic environment that could provide jobs and opportunities for future generations, leaders remain mired in power struggles and self-interest.
It is evident that Nepal needs a shift in priorities. Political leaders must refocus their efforts on creating a long-term vision for economic development that goes beyond short-term gains. This includes harnessing financial resources effectively, investing in industries that can generate employment and fostering an environment conducive to innovation and entrepreneurship. Only by addressing these issues with a clear, unified approach can Nepal hope to break the cycle of stagnation and build a future that offers prosperity for all its citizens.
In such times, the public may lose trust in the government, and it can be difficult for the leaders to inspire hope. The promises made to improve the living conditions of the poor and to address corruption should not be forgotten. It’s also crucial that politicians remember their pledge to ensure good governance and create jobs for the neediest.
Politicians must focus on actions that directly benefit the citizens to regain the latter’s trust. The politicians need to stop fighting among themselves and start working together for the common good. It’s important for them to take responsibility and make real efforts to fulfill the promises they made during their campaigns. Transparency and accountability are key. The people of Nepal deserve leaders, who are dedicated to making their lives better and improving the country's future.
Ultimately, the people should not feel ignored. Political leaders must be reminded of their duty to serve the citizens and improve their well-being. If they focus on their promises and take meaningful steps toward change, they can restore the trust and hope of the public.
