Seek Advice Of Real ‘Experts’

Yug Bahadur

Good Economics for Hard Times’. Sorry readers, this pen-pusher did not coin this ‘headline’ himself. I must humbly admit that this is the title of a book written by two economists who are the current holders of the prestigious Nobel Prize in Economics. That they have done a lot in helping economically ailing nations is there for all to see. These two are, Abhijit V. Banerjee and Esther Duflo, both professors in MIT, a much respected institute of learning, not only in the United States, but all over the world. They have also written another book titled ‘Poor Economics’, rethinking poverty and the ways to end it.

While some experts may have read the works of Banerjee and Duflo, most of the people here in Nepal, including the so-called ‘experts’, may not know that Dr. Mahesh Shrestha, a Nepali citizen, helped these two in their research works, including one that was conducted in Nepal, about the migration of many youths to other countries to earn enough money for their families. Dr. Shrestha contributed in other research works as well and he has rightly been given credit by the two brilliant professors for his help.

Pragmatic decision

There was a time when the then coalition government after the establishment of multiparty democracy, had tried to bring in a respected Nepali working in the International Monetary Fund (IMF) to come back to Nepal and be the Finance Minister, but he had politely declined this offer, saying he still had to fulfil his contract with the IMF. It seems this was a pragmatic decision made by this man who still is in America, as young party members like Mahesh Acharya were made ministers and many others who knew very little about economic worries of the nation were appointed to this crucial post. Even now we don’t see any professionals being appointed in crucial positions, but only party supporters being put in plum postings.

This writer is not taking sides and recommending Dr. Shrestha to be made the Finance Minister, but while reading a media report where the present Finance Minister Janardan Sharma revealed about the World Bank opening its regional office in Kathmandu, it would not be too much side taking to tell the government to try and bring a learned Nepali like Dr. Shrestha, who is currently working in the Bank, as a senior executive, so that Nepal could learn from his expertise in this intricate sector. It is the same like for a person going to seek the advice of a ‘specialist’ when their regular general physician cannot cure them of their illness.

This author remembers an industrialist who told him that he wanted to build a world standard hospital in Kathmandu, so that people will not have to go abroad for treatment. This man kept his word and built an international standard hospital, which is a little more expensive than other hospitals, but which is far cheaper and less troublesome, than going to foreign hospitals.

Right now every sector seems to be protesting against the government for taking hasty decisions. Almost all sectors, from airline owners to doctors, students and others want the government to take decisions for their own benefit, but few are willing to take the responsibility for pushing this nation to a precipice where a nasty accident could take place anytime. The same could be said about the economic condition of Nepal. Only the Finance Minister cannot do much while others keep on protesting against him. Such stakeholders should allow the Finance Minister to work in his own style, by giving him tips about the economy and how it could be improved.

At this juncture, it was also a welcome difference to hear that a famous TV personality has opened his own party that will have no cadres and which demands for a direct election of the provincial chiefs and also the post of prime minister. Many so-called ‘experts’ and also party leaders have taken this remark lightly, but they may be in for a rude surprise, to realise later on how much the people have lost their faith in the traditionally powerful parties. But let us hope that this is a thing of the past and instead of blaming one another, all political parties, their supporters and other knowledgeable people concentrate in the present and future, and allow ministers to act as per their own wisdom in this testing period.

Piling problems

At present, we only see a bleak scenario of the nation as the detractors not contributing in giving pragmatic suggestions and only blaming the government about the piling problems. Such decisions which aggravated the economy of the country and also piled up bitterness in other sectors, did not come from the decisions of the present government only. There might be some grain of truth in what these critics of the government are saying, but one simply cannot blame only the leaders in the present government. It must be given more time and more chances to amend the mistakes made by the leaders of the past as well. The thumping win of a political maverick like Balendra Shah as the Mayor of Kathmandu shows a sign of discontent of the people.

At present also, we must forget and forgive the mistakes made in the past and give at least some time for the present government to deal with the immense task of rebuilding Nepal and for this, we all have to support the government. And, like an ill patient, we need to seek the advice of real professionals instead of relying only on the media made ‘experts’ who really know nothing about the realities, but from whom we have to hear only about complicated issues, like the economy of the nation and take them as real ‘experts’.

(Yug is a freelance writer.)