Relevant Discourse

On the occasion of the 61st anniversary of The Rising Nepal's publication and the 125th anniversary of the Gorkhapatra daily, Gorkhapatra Corporation on Thursday held a grand discourse on the country's economic recovery and resilience. The objective was to create a common platform for the private sector, experts, policymakers and other stakeholders to hold a high-level national debate on the nation's economic revival, investment environment and future development strategies, while also identifying challenges and opportunities. 

Split into three sessions, the dialogue brought together the likes of ministers from diverse portfolios, a mayor of a well-run metropolis, prominent entrepreneurs and bankers, renowned industrialists, executive directors of leading and influential organisations, and other eminent personalities. In the session "Smart Infrastructure: Development and management," speakers highlighted the urgent need to build resilient infrastructure, given the increasing frequency of climate change-induced disasters. In the context that our hydropower sector, the bright spot in the economy, has increasingly been facing disruption as a result of catastrophic floods and landslides, it has, as argued by them, become imperative to plan and implement such projects after taking into account the climate element. 

They also underscored the importance of the government to open up, suggesting taking an integrated approach to development. When the providers of services, such as road, electricity, drinking water, sewage, among others, work in tandem, citizens don't have to face the long-plaguing issues, such as terrible road conditions like potholes, leaked water supply or drainage posing health risk, environmental hazards, hassles in getting municipal services and others, they explained. 

Likewise, in the "Private Sector Confidence" session, speakers spotlighted how the faith of the private sector, shaken to the core by the violent outburst, can be restored. A tax base for a government worldwide, the private sector's contribution is too important to ignore. But with the earnest assurance from the key government agencies to address the policy-level hurdles through the enactment of laws or their amendment to clear the way for the sector to thrive, the representatives of the nation's businesspersons and industrialists vowed to rise again from the ashes.  

Similarly, in the "Capital Mobilisation and Policy Facilitation" session, the panel discussion debated the pressing issue of frozen capital, among others. On the one hand, banks are brimming with cash; but on the other, common people lack the cash to spend, diminishing the demand for finished products and forcing industries to run below capacity or go out of business altogether. The experts pointed out that the cash, which should be in circulation in order for the people to climb the economic ladder, mustn't be allowed to pile up this way. They also explained how the lack of access to capital has posed a barrier for entrepreneurs to start businesses. However, with the government representatives vowing to act decisively through policy-level interventions, such hurdles are expected to be overcome.  

Importantly, these were not mere discussions; they were powerful discourses capable of shaping the future trajectory of the economy. Not only did they spotlight the real challenges elaborately, but they also charted the way out of the crisis. Those in the position of power to implement their suggestions should heed them and act promptly. At a time when the economy is gradually picking up momentum, months after taking a devastating blow from the recent Gen Z movement, such meetings hold special significance for the revival of the economy, as they shape the policies, investments, and strategies needed shake off the fallout.