NC suggests FM to stop youth exodus

Kathmandu, July 26

Finance Minister Janardan Sharma has said that he would put in efforts to create the foundations for sustainable development in the country.

“I will work to expand the economy, create stability, promote inclusiveness and sustainable development,” he said while talking to a delegation of a committee of the Nepali Congress on Sustainable Projects on Investment, Infrastructure and Employment on Monday.

FM Sharma assured that the implementation of entrepreneurship development programmes at the grassroots level and sustainable operation of enterprises would be among his top priorities.

“My priority lies in the entrepreneurship and development programmes that contribute to the transformation of common people’s lives,” he said.

The NC committee has suggested Finance Minister Sharma to promote entrepreneurship development and employment generation to hold the youth in the country.

In a meeting with the Minister, Coordinator of the committee and lawmaker, Binod Chaudhary and Joint Coordinator Anil Roongta and other members said that they expected exemplary work from him as during his earlier inning at the Ministry of Energy, Water Resources and Irrigation.

Minister Sharma had played a crucial role in managing the electricity and reducing load shedding with the help of Kulman Ghishing, his appointee at the Nepal Electricity Authority.

Chaudhary suggested the minister to announce concrete programmes to ensure livelihoods of the common people were protected amid devastation wreaked by COVID-19 pandemic on public health and economy, as well as that inflicted by recent floods and landslides across the country.

“COVID has affected every sector of the economy. Floods and landslides have ravaged infrastructure and adversely affected development projects, with tourism industry badly hit. In such a scenario, Nepal should increase its production, domestic consumption and export in order to mobilise the economy and stabilise it,” said Chaudhary.

The committee is running ‘Garikhane Abhiyan’ to promote entrepreneurs and job creators. It suggested that if 10 concessional loans were mobilised from a branch of a bank or financial institution (BFI), about 60,000 Nepalis could be made entrepreneurs. If an enterprise employs a minimum of three individuals, about 200,000 jobs could be created.

“This will create jobs for half of the 400,000 labour force that enters the market each year. Rest of the job seekers can be accommodated in other sectors as well. As a result, the compulsion to leave the country in search of jobs will be minimised,” said Roongta. “This policy provision will bring about a revolutionary change in the entrepreneurship, production and employment opportunity in the country,” he added.

The committee stated that the production and employment resulting from the policy will help in the expansion of the Gross Domestic Product, stabilisation of the economy, promotion of inclusive development and expansion of the base of government revenue.

It also recommended to channelise the money allocated for Corporate Social Responsibility (CSR) into the programmes like mentoring, project development, obtaining concessional loan, project operation and marketing.

Published in The Rising Nepal daily on 27 July 2021.