'Economic policy of social-democratic concept a must'

Kathmandu, May 13: Janamat Party's senior vice-president Abdul Khan has highlighted the need of economic policy of social-democratic concept in the country.  

  
He shared the information that the party is preparing to organize a grand public gathering in Kathmandu on May 28 on the occasion of the Republic Day this year.    

Khan, also the chairperson of the Industry, Commerce, Labour and Consumer Welfare Committee under the House of Representatives, said the public gathering would mark the future course of new republic and social democracy in the country.    

"The new republic is to correct the shortcomings surfaced during the practice within the Constitution and the system in a timely manner," he said. Noting that socialism has been enshrined in the Constitution as part of economic policy, Khan said that the provision shows the State would run, control and take ownership of all factories and industries.   

 
"Socialism is a very broad issue. There has been no capitalism and no capitalist revolution in Nepal so far. How is socialism possible without that?" he asked.    

Senior vice-president Khan said that there is a need to bring socio-democratic concept by changing the economic policy related to socialism which is currently in practice. A mixed economy of socialism and capitalism adopted by the US and some European countries could be suitable for Nepal, he argued that the country could go through that path to achieve economic development and prosperity.    

Talking to RSS, Khan claimed that foreign investment would increase if the social democratic economic policy was adopted. He stressed the need for direct election of people to all important positions in the country, including the Prime Minister, to end the political instability that is a major challenge to the development of the country. (RSS)