Lalitpur: Deputy Prime Minister and Minister for Urban Development, Prakash Man Singh, has said political stability is prerequisite to economic transformation.
During an interaction organized by the BP Thoughts Foundation on ‘Nepal’s Economic Transformation: Challenges and Opportunities’ here Thursday, DPM Singh viewed the achievements made so far must be protected to ensure economic transformation and prosperity.
“In absence of economic prosperity, development does not gain a pace. Current system does not allow a single party to secure majority of seats in parliament, so coalition government is imperative,” he reminded, adding that work alliance is also needed as per time.
He also reminded the policy the late Ganesh Man Singh adopted to take many parties together for resolving national problems and restore democracy in 2046BS. Once the political parties work as per system, it helps ensure stability and national economy, according to him.
The DPM also remembered the role BP Koirala, the founder of democratic socialism, played in Nepal’s democratic history. “Although questions are raised whether NC has deviated from BP’s thoughts, NC has not compromised with anyone on democratic values and principles,” Singh argued.
On the occasion, NC leader and National Assembly member Krishna Prasad Paudel, said Nepali Congress had adopted a liberal economic policy after the restoration of democracy in 2046BS, which, he argued, laid a foundation for private sector development, thereby contributing to national economy.
He suggested the government and major political parties that they removed the legal bottlenecks to increase capital expenditure.
Chairman of BP Thoughts Foundation, Haribol Bhattarai, viewed it is essential to free country from poverty and backwardness through economic reform.
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